United States fund Oaktree announced
on Wednesday that it is the new owner of Serie A champions Inter
after the previous owners, China's Suning, failed to pay off a
395-million-euro debt by Tuesday's deadline for repayment.
Suning had borrowed 275 million euros three years ago from
Oaktree at an interest rate of over 12% after the club's
finances were badly hit by the impact of the Covid-19 pandemic.
"As of 22 May 2024, funds managed by Oaktree Capital Management,
LP are owners of FC Internazionale Milano," Oaktree said in a
statement.
"This follows the non-repayment of the three-year loan granted
by Oaktree to Inter's holding companies, which expired on 21 May
2024 with a total balance of approximately €395 million."
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