As the son of Zhang Jindong, the former chairman of Suning Holding Group, Zhang Kangyang, the super-rich second generation, is now the president of Suning International of Suning Holding Group and the chairman of Inter Milan Football Club, I have to admit that Zhang Kangyang has made very outstanding achievements in the past 6 years since he became the chairman of Inter Milan in October 2018, helping the club gradually move from the trough to the former glory, and even in the latest Inter Milan fan survey, more than 6 percent of fans hope that Zhang Kangyang can continue to control Inter Milan
And Zhang Kangyang, who is far away in Italy, still enjoys the luxury life of the super-rich second generation, including owning at least 3 luxury sports cars worth more than $8 million, expensive watches worth about $15 million, and living in a top mansion worth $80 million, but behind all this, there are high debts! His debt dispute with China Construction Bank has been going on for almost two years, and now CCB has been collecting debts against him on a global scale, but surprisingly, the debt assets that CCB can recover do not include Inter Milan Football Club, which is valued at 1.2 billion euros
The whole thing goes back to July 2022, when China Construction Bank Asia Branch filed an appeal in a Hong Kong court, and finally the Hong Kong court ruled that Zhang Kangyang needed to repay the principal amount of 255 million euros to CCB, as well as 2.6 million euros of interest as of August 2, 2021, and 13% from August 3, 2021 until the date of full payment In April 2023, Zhang Kangyang, who had not repaid his debts, was sued by CCB again, but this time CCB's lawsuit was filed in Italy, where Zhang Kangyang lived, and the amount repaid this time reached 320 million euros, in addition to the principal of 255 million euros, there was also an annual interest rate of 13%.
In the Italian court, the litigant claimed that "although Zhang Kangyang lived a comfortable life, including driving a luxury car, wearing a famous watch, living in a luxury house, and having parties, he was able to maintain the status quo of having no property!" Why is this? Because Zhang Kangyang, as the chairman of the Inter Milan football club, does not have a penny of remuneration and salary, and Zhang Kangyang's shares in Inter Milan are still held indirectly through a Luxembourg company, CCB is not qualified to seize any shares of Zhang Kangyang in Inter Milan
Then this is very embarrassing, or CCB is very passive, and Zhang Kangyang's debtor is not only CCB, first continue to talk about the story of CCB and Zhang Kangyang, because the debt reached 320 million euros, so CCB began to collect debts from Zhang Kangyang around the world, including the United States, For example, on March 22, 2024, the Court of Appeal in Milan, Italy, recognized the judgment of the Hong Kong Court of China against Zhang Kangyang in July 2022, which means that Zhang Kangyang needs to repay the 320 million euros of CCB, which is also applicable in Italy. But so what? Zhang Kangyang can afford to repay the 320 million euros in assets, only Inter Milan shares, what real estate luxury cars are a drop in the bucket for so much money, helpless CCB, even to help Zhang Kangyang fight for a salary, CCB launched another lawsuit against Italy this month, demanding that Inter Milan Football Club pay Zhang Kangyang an annual salary of 914,000 euros
In this lawsuit, CCB is asking for the annulment of the resolution that "the chairman of the club is not entitled to any remuneration", which was a board resolution approved by the 2018 Inter Milan shareholders' meeting, and although the lawsuit is still ongoing, the club has responded by claiming that there has never been a practice in the history of Inter Milan football club to pay the chairman a salary, so we have every reason to reject such a claim! The reason why CCB did this was to increase Zhang Kangyang's assets in Italy, but what is enough for an annual salary of 914,000 euros?
Compared with CCB, Zhang Kangyang is another debtor, The American consortium Oak Capital is much calmer, Zhang Kangyang borrowed from the American consortium Oak Capital as early as 2021, and this loan will expire in May 2024, and Zhang Kangyang will need to repay 375 million euros even the principal and interest, it stands to reason that the money owed to Oaktree Capital is much more than the money owed to CCB, Zhang Kangyang must not be able to pay it back, but Oaktree Capital is not worried at all, because at the beginning of this loan, people let Zhang Kangyang use Inter Milan shares as collateral, that is, if Zhang Kangyang can't afford to pay it back, then Inter Milan will be taken over by Oaktree Capital, and Inter Milan's valuation so far has reached 1.2 billion euros, which is a business that only makes money and does not lose money
In order to avoid default in May this year, Zhang Kangyang began to take the initiative to negotiate with Oaktree Capital as early as the beginning of April, hoping to extend the date of repayment, and sure enough, Zhang Kangyang, who was full of sincerity, finally obtained the loan extension from Oaktree Capital, but Oaktree Capital rejected Zhang Kangyang's request to extend it to 2027, and finally the two parties reached an extension to 2026 at most, and the interest rate will also be at the original 12% The foundation is improved again, so if the extension is 2 years, can Zhang Kangyang earn this money back and return it to Oaktree Capital? Personally, I think there are only two possibilities, take the investment or sell the team
Zhang Kangyang, who got the extension, has planned to build a new stadium in Inter Milan, they plan to build a new stadium in the Rozano area, and at the same time will renovate the old stadium, all of which are only to improve the overall value of the club, and the first option is to take investment, Zhang Kangyang hopes to find new investors within 2 years, and Goldman Sachs Group will also help them find some investors
The second option is to sell for a good price in 2026, after all, Inter Milan is currently valued at 1.2 billion euros, but there is no potential buyer yet, but in two years, Zhang Kangyang does hope to make the club achieve a balance in terms of income and expenditure, and during Zhang Kangyang's tenure as president, Inter Milan's achievements are obvious to all
In the latest fan survey, more than 60% of fans hope that Zhang Kangyang can continue to control Inter Milan, since he began to serve as Inter Milan president in October 2018, first qualified for the Champions League in the 2017-2018 season, then won the Serie A championship in the 2020-2021 season, and then won the Champions League runner-up in the 2022-2023 season, and now Inter Milan has returned to the top level of Europe! So in the more than 5 years that Zhang Kangyang has been in office, Inter Milan has won a total of 6 championship trophies, 1 Serie A championship trophy, 2 Italian Cup championships and 3 Italian Super Cup championships, and in 2023, Inter Milan will return to the Champions League final after 13 years, and more importantly, Inter Milan this season is likely to lift the Serie A championship trophy in advance, so their jerseys will also be embroidered with a second star representing 20 league championships!
Inter Milan in Zhang Kangyang's era is undoubtedly successful, but now he has not appeared in the Inter Milan office for 9 months, and with Inter Milan winning the championship this season without suspense, the news has been learned that Zhang Kangyang will definitely not be able to go to the Meazza Stadium to celebrate the victory of winning the championship with many Inter players, and now he has 4 goals to be completed within 2 years after obtaining a 2-year loan extension from Oaktree Capital in the United States, of which the first 2 have been won by Zhang Kangyang
The first is Inter Milan's 20th Serie A championship trophy this season, so on this point alone, the "Suning Era" led by Zhang Kangyang is definitely worthy of being recorded in Inter history, and secondly, the second goal he has also completed, that is, the postponement of negotiations with Oaktree Capital, Zhang Kangyang has been given a 2-year respite, not surprisingly, the valuation of Inter Milan will increase in the past 2 years
The third is the construction of the new stadium mentioned earlier, the new stadium can accommodate 70,000 fans, and the stadium hardware facilities have reached the world-class, then according to the stadium construction schedule, the opening time is July 2028;
This is a good thing for three parties, the fans enjoy the top football feast, Zhang Kangyang can let more investors see and get more investment opportunities, and Hong Kong, China can also revive morale after the "Messi turmoil".
In addition, with Inter Milan winning the Serie A championship in April, the team's championship bonus + TV broadcast + Champions League guaranteed bonus + Club World Cup guaranteed bonus can get nearly 220 million euros! , A long time ago, Zhang Kangyang said to the outside world that he is 40% Chinese, 30% American, 20% Italian and 10% world citizens, so Zhang Kangyang was also ridiculed by fans as a "Sino-foreign joint venture"
Zhang Kangyang said that it is also reasonable, he was born with a golden spoon, he went abroad to study at the age of 15, and studied in high school and college in the United States, including high school in the traditional elite high school Mooresburg College, and in college in the Ivy League school Wharton School of the University of Pennsylvania, which is why he declared himself to be 30% American, and then as the son of Zhang Jindong, Zhang Kangyang, who likes football, also bought Inter Milan in 2016, and Inter Milan officially entered the "Suning era" It wasn't until 2018 that he became the youngest president in the club's history, so he considers himself 20% Italian
At present, Zhang Kangyang will definitely pay off Oaktree Capital's 375 million euros of debt (not including the high interest of the 2-year extension) in 2 years, after all, Zhang Kangyang is using Inter Milan shares as collateral, but as for CCB's 320 million euros debt, I hope so
Editor: Tang Bohu