The US investment company Oaktree is the new owner of the traditional Italian club Inter Milan. Oaktree Capital Management is taking over ownership with effect from Wednesday after the previous owner of the club led by ÖFB legionnaire Marko Arnautovic was unable to meet the deadline for repaying debts amounting to almost 400 million euros, as several media outlets consistently reported. Oaktree granted the Chinese company Suning a loan with interest three years ago.
Inter ran into financial difficulties in 2021 as a result of the coronavirus pandemic: record financial losses were forecast for the 2020/21 season, so Oaktree provided rescue capital to the holding companies. This was intended to stabilize the club’s situation and enable business operations to continue. In the event of a default, Oaktree reportedly has the right to take control of the club. By Tuesday, the repayment of the debt had been agreed.
It was unclear whether Oaktree would seek a sale. However, managing director Alejandro Cano emphasized that ownership is focused on the long-term future. “As new owners, we are aware of our responsibility towards the community, history and heritage of Inter Milan,” he said in a statement. Inter Milan is one of the most important clubs in Italian football. This season the Serie A club won the championship for the 20th time.
