November 22, 2024

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President Zhang will be arrested if he attends the Scudetto Festival

President Zhang will be arrested if he attends the Scudetto Festival

Inter



Inter President, Steven Zhang
@2022 Luca Bruno/AP Photos

Inter are one step away from winning the Serie A title, but the party will be held without team president, Stephen Zhang.

Financial problems push Inter to bankruptcy, as do their results in winning the Italian League title this year, and the combination of the two is the weakness of their president. Steven Changto attend the Scudetto ceremony, otherwise he risks even being arrested.

A Milan court has upheld a Hong Kong court decision holding the 32-year-old businessman, the son of the founder of conglomerate Suning Holdings Group, liable for a €320 million debt to China Construction Bank.

The result is that the banking organization now has the right to demand funds from Zhang in Italy as well, potentially putting the Nerazzurri boss at risk of arrest by the country's economic police once he arrives in Italy.

His case is similar to that of Diego Maradona, who took decades to return to Italy, where his tax office was waiting for him due to millions in debt.

It is worth noting, however, that Zhang may not be president of the Nerazzurri until May 19 and the end of the Italian League, as it seems unlikely that he will be able to repay the loan he took out from Oaktree Capital Management in his name. For the club, with the equity package guaranteed, everything indicates that the team will move into the hands of the American fund.

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