Serie A
US company takes over Italian champions Inter
The US investment company Oaktree is the new owner of Italian champions Inter Milan. Oaktree Capital Management took over ownership with effect from Wednesday after the previous owner was unable to meet the deadline for the repayment of debts of almost 400 million euros, as reported by several media outlets.
Oaktree had granted the Chinese group Suning a loan with interest three years ago.
In trouble due to the pandemic
Inter got into financial difficulties in 2021 as a result of the coronavirus pandemic. Record financial losses were forecast for the 2020/21 season, so Oaktree provided the holding companies with rescue capital. This was intended to stabilize the situation of Marko Arnautovic's club and enable it to continue its business operations. In the event of a default, Oaktree reportedly has the right to take control of the club. Repayment of the debt had been agreed until Tuesday.
It was unclear whether Oaktree would seek a sale. However, managing director Alejandro Cano emphasized that the ownership was focused on the long-term future. "As new owners, we are aware of our responsibility to the community, the history and the heritage of Inter Milan," he said in a statement.
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