A group of Chinese investors is set to become the second-biggest stakeholder in an Italian soccer club, Milan's team Internazionale. With Europe's continuing economic troubles, fans say they are excited about the deal bringing more financial security and a new stadium, built by China's second-biggest construction company. Internazionale Milan, one of Italy's most famous teams, has played in the country's top league, Serie A, since its founding in 1908. Massimo Moratti, the team president and main shareholder, recently announced an $87-million deal with a group of Chinese investors for 15 percent of the team's shares. Sports commentator Gian Luca Rossi says Moratti's primary business in oil drilling and refining was hit hard by the political upheaval in Libya. Those losses, as well as the deepening of the economic crisis in Europe made it more difficult for him to fund the prestigious but less profitable soccer team. "The dramatic thing here is that fans think that a poor country can still have a rich soccer," noted Rossi. Rossi adds that Moratti had been looking for investment from Asia for at least two years. "From what I gathered talking to Moratti recently, the idea of not having to be alone in writing checks for 20, 30, 50 million is something that gives him his breath back, and makes him look at the future with great optimism," said Rossi. As part of the deal, a new stadium in Milan will replace the San Siro venue, which is shared with Inter's rival team AC Milan. The stadium will be built by the state-owned China Railway Construction Corporation as its first project in Europe. |