Inter owner Steven Zhang is unlikely to put pen to paper with Pimco or Oaktree by end of day despite the looming deadline to repay a massive loan to the former. There could be a technical extension of the terms. The affair might also spill over to the courtrooms, La Gazzetta dello Sport informed (via Mediaset).
That would prevent the club from making any kind of moves until the matter is resolved. The halt would come at a crucial time from a sporting standpoint since the transfer market is about to start.
Oaktree wants to enforce all the clauses of its financing before Zhang ends it, should he really reach agreement with the other fund. They were entitled to a percentage of the sale if the club changed hands in the past three years. They want to make sure that remains valid for the future as well.
Considering an upcoming national holiday in Luxembourg, the key date will be Tuesday. Inter would enter uncharted territory afterward.
Oaktree will have the option of acquiring Inter by paying the difference between the figure they are owed and market value if the debt isn’t settled, but Zhang might sue them if they keep filibustering his ongoing negotiation. That would make the scenario, the outcome, and the timetable extremely uncertain.
The fund wouldn’t mind a one-year extension of the loan at a higher rate to force the patron to sell the team and cash fully in on its previous investment.
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