Steven Zhang has every intention of keeping ahold of Inter, as he suggested during the recent board meeting. He’s operating quietly to ensure he’s not forced to give up the club, which he used as collateral in a €275M loan from Oaktree.
Per La Gazzetta dello Sport, the two funds that showed interest, a Saudi and an American one, haven’t gotten past preliminary talks. Thomas Zilliacus has been very vocal, but there’s no ongoing due diligence at this stage. Therefore, nothing is imminent about the sale of the team.
Zhang hasn’t provided any opening in such a direction. On the other hand, he has to find a solution to pay Oaktree back by May 20th. Considering a 12 percent interest, the sum has ballooned to €350M. The club has utilized €148M from it so far.
The decision won’t go down to the wire. Whether the Chinese ownership will retain control will likely be determined by Christmas or early 2024. The conversations with Goldman Sachs and Raine, which serve as advisors to find new partners and investors, will heat up only afterward.
Zhang wants to refinance the bond at sustainable rates. It’s a tall order considering what’s happening globally. He might do it with Oaktree or a different subject. In addition, Suning will have to settle €342M losses, which were postponed thanks to special COVID-19 rules, by June 2027, TuttoSport informs.
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