Oaktree assumes leadership of Inter

Oaktree, an American investment fund, has officially taken ownership of Serie A champions Inter. That is after Suning, led by President Steven Zhang, failed to repay a hefty $411 million loan.

The loan, provided by Oaktree in 2021, required full repayment and a substantial interest rate of 12% by May 21. With Suning unable to meet its financial obligations, Oaktree has moved to assume control of the prestigious Italian club.

Oaktree has expressed ambitions to strengthen Inter‘s foundations following the Suning era, signaling a commitment to the club’s long-term success. While speculation swirls regarding potential future buyers, the transition process is expected to unfold gradually.

“In the three years since Oaktree’s rescue financing, Inter has lifted its eighth and ninth Coppa Italia, secured its sixth, seventh, and eighth Supercoppa, earned its 20th Scudetto title and historic second star, and reached the UEFA Champions League final for the first time since 2010.

“Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the Club and its stakeholders.

“We value the legacy of the Club, the passion of the players, the loyalty of the Interisti, and the Club’s significant role in Milan, Italy and the global sporting community”, the company said.

“Oaktree is committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch; focusing on robust management, operations and governance with a vision for sustainable growth and success.”

Inter becomes seventh US-owned Italian club

In the next weeks, Inter will name a new president and board of directors. Tuttosport claims Inter icon Javier Zanetti is a strong candidate for the position, but the appointment is still up in the air.

This development marks a…

Source link : https://worldsoccertalk.com/news/us-supremacy-in-serie-a-oaktree-assumes-leadership-of-inter/

Author : Martina Alcheva

Publish date : 2024-05-22 19:00:34

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