Steven Zhang confirmed he would stay in control of Inter during the Scudetto festivities, but the announcement about the refinancing of the Oaktree loan didn’t arrive as many pundits expected. The Chinese tycoon will retain the team, but the way how he’ll do it has yet to be decided, Il Sole24Ore informs (via Calciomercato).
The owner opened talks with the American fund Pimco for a new €400M loan with a three-year deadline, paying off the previous one. The due diligence has been ongoing.
On the other hand, following the rumours, Oaktree proposed Zhang to prolong the financing by a year. At this stage, it’s seen as a fallback. The patron prefers the longer timetable. He’d have more time to search for investors, assess the impact of the new international competitions, the new Champions League and the Club World Cup, and forward the project to build a new stadium.
However, it remains to be seen whether the outcome of the negotiation with Pimco will indeed be positive. The decision will have to come one way or the other this month since the deadline for the outstanding €380M loan falls on May 20th. Oaktree will have the option of buying the club for market value if it isn’t repaid.
Our Take on Inter, Oaktree, and Pimco
The key detail is that he will stay at the helm and isn’t looking to sell. What financial instrument he uses matters more to him than to the team.
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