MILAN — Italian football club Inter Milan says that a group of Chinese investors is to become its second largest shareholder.
In a statement Internazionale Holding, the parent company, said the group would acquire a stake, but that the Moratti family would retain control. It also said it would build a new stadium in partnership with a unit of China Railway Construction to be completed in 2017.
The Serie A club is looking to increase its presence in Asia. The location of the new stadium has not yet been decided, the statement said. The club said Kamchi Li, Kenneth Huang and Fabrizio Rindi would become members of the board of directors as a result of the investment. The financial terms of the acquisition were not disclosed.