Erick Thohir to sell Inter Milan stakes before acquiring Oxford United: Report

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Inter Milan chairman Erick Thohir is reportedly closing on negotiations for a deal to acquire a majority stake in the English third tier club Oxford United.

The move could see the Indonesian business tycoon sell his 30% stakes in the Italian football giants to the Chinese holding company Suning Group, who are currently the majority owners of the Serie A club with 68.55% stock.

The Oxford United deal will be complete only after Thohir tranfers his shares in Inter Milan.

Jindong Zhang, founder and the majority owner of the Chinese retail giants Suning, has already revealed his intentions for the complete takeover of Inter Milan this year. Reports suggest that Thohir has demanded around $235.4 million (€200 million) to forgo his shares in the club.

A deal could be reached by the end of October, with Oxford United owner Sumrith Thanakarnjanasuth, who only took over in February, reportedly keen to sell. It is believed that a bitter stand off with stadium owner Firoz Kassam is behind the Thai’s decision to sell the League One club. Thanakarnjanasuth has apparently been exploring the possibility of a move away from the Kassam Stadium.

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In September 2013, then Inter Milan chairman and owner Massimo Moratti confirmed that he was in discussions to sell a majority 70% stake in the club to Thohir. Later that year, International Sports Capital HK Limited, led by Thohir (for 60% stake), Handy Soetedjo (20%) and Rosan Roeslani (20%), became the majority shareholder of Inter Milan, acquiring a 70% stake of the club by subscription of new shares.

One month after the takeover in 2013, the club’s general meeting had appointed Thohir as new chairman of the board of directors of Inter Milan, replacing Moratti, who would remain with the club as honorary chairman until 2016.

However, in June 2016 Thohir sold part of its stake to Suning but remained as the chairman, despite being the second largest shareholder.