A US investment fund has assumed control of Serie A champions Inter due to the owners missing a €395million payment.
Oaktree Capital Management took over ownership granting a loan in 2021 guaranteed by the club’s majority shareholder.
Oaktree, known for helping struggling companies, now has the potential to take over Inter in the event of a default.
The fund plans to collaborate with Inter’s current management and league to ensure success both on and off the field.
Despite the recent Serie A win, Inter’s ownership situation is unstable as Oaktree takes the reins.
There is no immediate word from Suning, the majority shareholder since 2016.
China’s restrictions on overseas sports spending and COVID-19 had hurt Suning, leading to financial troubles.
Oaktree’s interest in Inter is unique as they are willing to be patient and not immediately sell the club.
In a public statement, Inter chairman Steven Zhang expressed concerns over the club’s future amid failed negotiations with Oaktree.
Oaktree’s move is reminiscent of Elliott Management’s takeover of Inter’s city rivals, AC Milan, in 2018.
