American investment firm Oaktree Capital has officially taken ownership of Serie A champions Inter Milan. This move comes after Inter’s president, Steven Zhang, failed to repay a debt of nearly €400 million.
In an official statement, Oaktree revealed, “As of May 22, funds managed by Oaktree Capital Management, L.P. (‘Oaktree’) have assumed ownership of FC Internazionale Milano. This follows the non-repayment of Oaktree’s three-year loan to Inter Milan’s holding companies, which matured on May 21, 2024, with a total balance due of approximately €395 million.”
Back in May 2021, facing record financial losses during the 2020/21 season, Oaktree provided rescue capital to Inter Milan’s holding companies to stabilize the club’s finances, ensuring the continuation of operations and payment of players and employees. Since then, Inter has won multiple titles, including their eighth and ninth Coppa Italia, sixth, seventh, and eighth Supercoppa, their 20th Scudetto, and reached the UEFA Champions League final for the first time since 2010.
Oaktree is committed to collaborating with Inter Milan’s management, partners, the league, and governing bodies to ensure the club’s success both on and off the pitch. Their focus will be on robust management, operations, and governance, aiming for sustainable growth and success.
Steven Zhang’s Suning group took control of Inter in June 2016 and has won seven titles at the Stadio Meazza, including two Serie A titles. Zhang became the first foreign president to win a Serie A title in 2020-21, and this season, Inter secured their 20th Scudetto.
Oaktree’s statement also confirmed that the current directors, including Beppe Marotta, Alessandro Antonello, Dario Baccin, and Piero Ausilio, will remain in their roles. However, Inter’s board of directors will step down, and a new president will be appointed.
⚫️🔵 Inter are now officially owned by American fund Oaktree.
Oaktree Capital has taken control of the club after Suning Group’s €368m loan was not returned, no agreement reached. pic.twitter.com/UXSp9oPXjm
— Fabrizio Romano (@FabrizioRomano) May 22, 2024
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