Serie A club Inter have taken a second step in boosting their market position in Chinese sports by striking a deal with Italian industrial group Riello.
Riello has been appointed Inter's regional partner in mainland China. In addition to its native Italy, Canada and Poland, the company designs and produces heating and cooling technology for residential, commercial and industrial entities in the country.
The new partnership comes after Inter's Chinese owner Suning Holdings, which has controlled a 68.55 percent stake in the team since 2016, decided to sell the club.
Private equity firm BC Partners expressed interest in acquiring a 40 percent stake for around 500 million euros, while U.S. investment bank Goldman Sachs has been appointed to advise Sunning on the sale process and any potential agreement, it was reported in January.
However, the reports have not deterred the 18-time Serie A champions from their expansion strategy in the Asian sports market.
The recent deal with Riello is Inter's second China-focused partnership, following a regional sponsorship deal with LD Sports in January this year.
Under the terms of the agreement, the Chinese sports and entertainment content agency will gain brand awareness and take advantage of marketing opportunities during Inter Milan's matchday coverage in Asia, including the use of fence advertising.
LD Sports business development director Kevin Tan described the deal as an "exciting new development" for the company that will "provide us with a platform from which we can grow and engage our fan base globally, especially Chinese market'.
Serie A club Inter have taken a second step in boosting their market position in Chinese sports by striking a deal with Italian industrial group Riello.
Riello has been appointed Inter's regional partner in mainland China. In addition to its native Italy, Canada and Poland, the company designs and produces heating and cooling technology for residential, commercial and industrial entities in the country.
The new partnership comes after Inter's Chinese owner Suning Holdings, which has controlled a 68.55 percent stake in the team since 2016, decided to sell the club.
Private equity firm BC Partners expressed interest in acquiring a 40 percent stake for around 500 million euros, while U.S. investment bank Goldman Sachs has been appointed to advise Sunning on the sale process and any potential agreement, it was reported in January.
However, the reports have not deterred the 18-time Serie A champions from their expansion strategy in the Asian sports market.
The recent deal with Riello is Inter's second China-focused partnership, following a regional sponsorship deal with LD Sports in January this year.
Under the terms of the agreement, the Chinese sports and entertainment content agency will gain brand awareness and take advantage of marketing opportunities during Inter Milan's matchday coverage in Asia, including the use of fence advertising.
LD Sports business development director Kevin Tan described the deal as an "exciting new development" for the company that will "provide us with a platform from which we can grow and engage our fan base globally, especially Chinese market'.