Steven Zhang didn’t settle his €386M debt by Monday, so Oaktree will start the procedure to seize control of Inter, which were used as collateral for the loan. The change of hands will take about 15-20 days due to the technicalities. The fund should issue a statement on the matter on Wednesday, Sky informed.
CEOs Giuseppe Marotta and Alessandro Antonello will manage the team during the transition. The new owner will install a new board and president. It isn’t expected to modify the front office.
The value of Inter will soon be decided by an expert, and Oaktree will pay Zhang the difference between such a sum and what they were owed. It should be around €500M. Suning exits after acquiring the team from Massimo Moratti in 2016 and conquering seven trophies. Their only hope of keeping the side is a possible legal battle.
The fund was established in 1995 in Los Angeles, handles assets worth €192B, and has 1200 employees. It has been controlling Caen since 2020. It made the club healthier financially but haven’t been able to gain the promotion to the Ligue 1.
According to Corriere della Sera (via Calciomercato), the Inter execs will have ample autonomy within a predetermined budget under Oaktree. It won’t look for a buyer right away but rather try to make it more palatable. The arrival of a minority stakeholder in the short term is more likely than a sale. The Nerazzurri have been self-financing on the transfer market in recent windows, and that will continue.
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