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Inter Milan taken over by US investment firm Oaktree after Chinese owners fail to repay loan

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US-based investment firm Oaktree Capital Management said on Wednesday it has “assumed ownership” of recently crowned Serie A champion Inter Milan.

Inter’s Chinese owner, Suning, failed to repay a loan now worth €395 million that was taken out to help finance the club during the Covid pandemic. In a statement, Oaktree said: “We understand the great responsibility towards the community and the historical legacy of Inter. “We are committed to the long-term success of the Nerazzurri and believe that our ambitions for the Club match those of its passionate fans in Italy and around the world.

“During the approach of the pending Oaktree facility redemption date, we have been making every attempt with our partner to find an amicable resolution, including multiple paths for Oaktree to achieve full and immediate financial return,” former Inter president Steven Zhang said in a statement on Saturday. “Unfortunately, our efforts to date have been exasperated by legal threats, and a lack of meaningful engagement from Oaktree.

 

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American fund Oaktree takes over Series A champ Inter after previous owners failed to repay loanAmerican fund Oaktree has officially become the new owner of Serie A champion Inter Milan. It brings an end to Suning and Steven Zhang’s eight years at the helm. Oaktree has taken over after Suning failed to meet Tuesday’s deadline of repaying a debt of nearly 400 million euros ($434 million). That sum stems from a loan taken out three years ago.
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Serie A champion Inter facing a nervous wait as deadline looms for loan repayment to OaktreeJust two days after celebrating its Serie A title win, Inter Milan and its fans face a nervous wait to see what will happen with the club. Club owner Suning and Inter president Steven Zhang could lose control of the Nerazzurri on Tuesday if they fail to repay a debt of nearly 400 million euros ($434 million) to American investment fund Oaktree.
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