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For the first time since WWII, one of the Italian Big Three is in foreign hands.
Indonesian businessman Erick Thohir has purchased majority shares in Internazionale Milan, also known as Inter, from club president Massimo Moratti. Moratti retains 30% of the club’s shares, and will in all likelihood step down as president. The exact value of the deal is not yet known, but is speculated to be around 200 milion euros. Thohir initially demanded a 100% stake, but with Pirelli and independent shareholder groups controlling 10-12%, he is likely to acquire 55-60% of the shares.
Thohir made his fortune in media and publishing. He owns MLS team DC United and is a co-owner of the NBA team Philadelphia 76ers as well. Inter incidentally has a vast fan following in Indonesia, by one estimate over 2 million, which would rival the number within Italy.
The sale marks the end of an era during which Moratti – whose father Angelo previously ran the club during a successful period in the 60s that saw Inter clinch back-to-back European titles under legendary manager Helenio Herrera – became its most successful president of all time. Under him, Inter won 16 titles, including a dream run of five league titles on the trot that culminated in a continental Treble in 2010, the only Italian club till date to achieve the distinction.
That run, however, was fuelled by expensive foreign acquisitions and ludicrously high salaries to players like Diego Milito, Samuel Eto’o and Wesley Sneijder that has left Inter with an estimated debt of 300 million euros. Moratti has acknowledged that he can no longer produce the funds to keep the club at its desired level, which is why the sale to Thohir raises hopes that Inter may return to competing with the top guns in Europe again.
Last season, under manager Andrea Stramaccioni, they finished a disappointing 9th in Serie A last season, failing to qualify for Europe for the first time in 15 years. This year, new manager Walter Mazzarri has taken Inter back into the top 5 with a string of solid performances.
Thohir’s first test will come this January. If he can produce the funds Inter need to make quality signings, they can return to European football next year. He has already set his sights on former Inter player (and known Inter fan) Andrea Pirlo, who currently plays for Juventus.
