The Inter Milan club entered a period of uncertainty on Wednesday May 22 after its takeover by the American fund Oaktree. Suning, Chinese owner of the Nerazzurri since 2016, was unable to honor a debt of nearly 400 million euros. Highly in debt, the Lombard club is moving into the unknown.
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Crowned champion ofItaly for the 20e time in its history this season, FC Inter Milan passes under the American flag. This May 22, Oaktree indicated that it had “ took control » of the jewel of Lombardy, for failure to have recorded the reimbursement by Suning of “ a three-year loan “ripened on May 21” for a total due of around 395 million euros “.
On Saturday May 18, Steven Zhang, the interior president, criticized the American fund for “ jeopardize financial stability » of the club and assured that Suning had “ made every effort to find an amicable solution “. “ Unfortunately, our efforts thus far have been met with legal threats and a significant lack of involvement from Oaktree “, he added.
Oaktree had agreed to a loan of 275 million euros to Suning in 2021 to cope in particular with the lack of ticket revenue during the Covid-19 period, during which matches were played without an audience. With interest of 12% per year, the Chinese conglomerate owed Oaktree 395 million euros.
What future for the Italian champions?
The Californian investment fund, which has $170 billion in assets, says it “ determined to achieve the best results for the long-term prosperity of Inter Milan », club which has won seven trophies including the Italian championship (Serie A) twice and has played in two European finals – Europa League in 2020, Champions League in 2022 – since Suning acquired around 68% of the capital in 2016 .
Internazionale, coached by Simone Inzaghi since 2021, has flown through Serie A this season. But the club is in serious financial difficulties with losses of 85 million euros in 2022-2023, compared to 140 million a year earlier. Steven Zhang thought he had found the solution in the form of another loan granted by another American fund, Pimco, for an amount of 430 million euros, which would have made it possible to reimburse Oaktree. But negotiations with Pimco have been delayed, according to the Italian press.
The takeover by Oaktree will inevitably lead to speculation about the future of some Inter stars, notably the captain and top scorer in Serie A this season, Argentine Lautaro Martinez.