The American company Oaktree officially becomes the new owner of Inter

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The American company Oaktree officially becomes the new owner of Inter

Oaktree provided rescue capital to the parent company to stabilize the club’s financial situation

Jakarta (ANTARA) – The US company Oaktree has officially become the new owner of Inter, replacing the Chinese entrepreneur Steven Zhang, head of the Suning Group.

Based on their official statement, Oaktree announced that Inter Milan now belongs to them after Suning Group failed to pay them a loan debt of 395 million euros (Rp. 6.86 trillion).

“On May 22, funds managed by Oaktree Capital Management, LP (“Oaktree”) took ownership of FC Internazionale Milano. This follows Oaktree’s failure to repay its three-year loan to Inter Milan’s parent company, due on May 21. May, 2024 with a total outstanding balance of approximately €395 million,” wrote Oaktree’s statement cited by Football Italia on Wednesday.

In May 2021, Oaktree provided rescue capital after Inter predicted record financial losses during the 20/21 season.

“Oaktree has provided rescue capital to its parent company to stabilize the financial situation of the club and allow it to continue to operate, including paying players and employees,” an Oaktree statement added.

Furthermore, Oaktree confirmed that their aim as the club’s new owners is for Inter to prosper in the long term. As a first step, they will first focus on stabilizing the club’s finances.

“Oaktree is committed to achieving the best results for the long-term prosperity of Inter, with an initial focus on operational and financial stability for the Club and its stakeholders. Oaktree values ​​the club’s heritage, the passion of the players, the loyalty of the Inter fans and the important role that the club plays in Milan, in Italy and in the global sporting community”, continued the Oaktree statement.

Previously, the Suning Group had taken over Inter in June 2016. In almost eight years under Suning’s ownership, the Nerazzurri won seven league titles, including two league titles.

Zhang himself became the first foreign president to successfully help his club win the Italian championship title in 2020-2021. This season Inter also managed to become champions of the Italian championship, the 20th title in the club’s history.

Oaktree’s statement also explains that the club’s current managers will remain at the helm of Inter. Inter’s board of directors, however, will resign and a new president of the club will be appointed.

Reporter: Hendri Sukma Indrawan
Editor: Junaydi Suswanto
Copyright © ANTARA 2024

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