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Inter’s Suning have to pay Premier League £157m

Tue 11 January 2022 | 19:40

The Nerazzurri owners are going to pay a £157m payout to the Premier League after a TV rights-related court case.

Suning

are the owner of PPTV, who penned a three-year contract in 2016 to stream all 380

Premier League

matches in China from 2019 to 2022. Their payment was 12 times more than last rights owners

Super Sports Media

.

PPTV did not pay the first instalment of £257m and in March 2020, as well as the second one which was £160m, resulting in financial problems. Six months later, the contract was terminated and it all had to be dealt with in court.

Suning had struggled with many financial problems during the pandemic and in 2021, they dissolved their Chinese Super League team Jiangsu FC. They also cashed in on Romelu Lukaku and Achraf Hakimi to balance the books last summer.

The Chinese conglomerate have been considering selling the club; however, there hasn’t been any significant progress. They have pronounced that “the debt problem at our group has gradually stabilised”, meaning they may stay in charge to pay the Premier League.


source: SportMob

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