Inter is changing ownership

New property in Inter. The current president of the Nerazzurri, Steven Zhang, is unable to repay a 395 million euro loan he had taken through Suning from Oaktree three years ago and after the relevant date has passed, so the American fund announced on Wednesday that it is now taking over the administration of this year’s Serie A champions.

The announcement states:

“As of May 22, the funds managed by “Oaktree Capital Management, LP” (“Oaktree”) took ownership of Inter. This follows the default on Oaktree’s three-year loan to Inter’s holding companies due on 21 May 2024, with a total outstanding balance of around €395 million.

In May 2021, with Inter forecasting record financial losses during the 20/21 season, Oaktree provided the holding companies with rescue capital to stabilize the club’s financial situation and allow it to continue operating, among other things; to pay his players and employees.

In the three years since Oaktree’s bailout funding, Inter have lifted an eighth and ninth Coppa Italia, secured a sixth, seventh and eighth Supercoppa, won their 20th Scudetto title and historic second star and reached the UEFA Champions League final for first time since 2010.

Oaktree is committed to achieving the best outcome for the long-term welfare of Inter, with an initial focus on operational and financial stability for the club and its shareholders. Oaktree values ​​the club’s heritage, the passion of the players, the loyalty of the fans and the important role the club plays in Milan, Italy and the global sporting community.

Oaktree is committed to working closely with Inter’s current management team, partners, league and governing bodies to ensure the club is positioned for success on and off the pitch, focusing on strong management, operations and visionary governance for sustainable development and success”.