the change of president and owner is complete!

the change of president and owner is complete!
the change of president and owner is complete!

Steven Zhang’s Sunning era at Inter is officially over. The former president and owner of Inter did not repay the debt of 375 million euros to the American fund Oaktree within the set deadline, which thus becomes the new owner of the Nerazzurri club: “FC Internazionale is owned by Oaktree. Since May 22, 2024, funds managed by Oaktree Capital Management, LP (“Oaktree”) have owned FC Internazionale Milano (“Inter” or the “Club”). This follows the non-repayment of Oaktree’s three-year loan to Inter’s holding companies, which expired on May 21, 2024 with a total balance of around €395 million. Oaktree aims to achieve the best results for the long-term prosperity of Inter, with a primary focus on the operational and financial stability of the Club and its stakeholders. Oaktree has great respect for the history of Inter, the passion of the players, the loyalty of Inter supporters, he also has great esteem for the important role of the Club towards the city of Milan, Italy and the global sports community” is it written in the official press release.

The rest after this ad

Alejandro Cano, Managing Director and European Co-Head of Oaktree’s Global Opportunities Strategy, commented: “As the new owner, we know our great responsibility towards the community and the historical heritage of Inter. We are committed to the long-term success of the Nerazzurri and believe our ambitions for the Club align with those of its passionate supporters in Italy and around the world. Our initial objective is the operational and financial stability of the Club. We have great respect for the Inter management team and look forward to working closely with them to provide strong leadership to the Club.. Oaktree will have to pay Suning the difference between the market valuation of the club (we are talking about 850 million euros, debts included) and the amount of the unrepaid loan. The American fund will thus be able to take possession not only of 68% of the club’s shares in the hands of Suning, but also of the 31% held by Lionrock, an ally of the Chinese group.

Pub. THE 05/22/2024 11:40
Update 05/22/2024 12:09

-

-

PREV PSG: Luis Campos says yes to Luis Enrique for this recruit
NEXT “I will only be happy if we go to the final”