HomeSPORTSBreaking: Oaktree Capital Management Acquires Italian Champions Inter Milan

Breaking: Oaktree Capital Management Acquires Italian Champions Inter Milan

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Afor Kenneth

US investment fund Oaktree Capital Management has announced that it is now the new owner of Italian champions Inter Milan.

This follows a missed payment of 395 million euros by the club’s holding company.

The loan, granted in 2021 to the Luxembourg-based vehicle through which Chinese conglomerate Suning controls Inter, was secured by the firm’s stake in Inter Milan. As per the arrangement, Oaktree had the option to assume control of the club in the event of a default.

“Our initial focus is operational and financial stability. We have great respect for Inter Milan’s management team,” said Oaktree’s Alejandro Cano.

Founded in 1908, Inter Milan is one of the most renowned clubs in Italian football, boasting 20 league titles. The club is home to top players such as Lautaro Martinez and Nicolo Barella.

In 2016, Suning acquired a majority stake in the club, marking one of the most high-profile ventures by a Chinese business into European soccer.

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