Oaktree Capital Management Assumes Ownership of Inter After Chinese Owners Miss Payment

Wednesday, 22 May 2024, 11:40
After Suning, Inter's Chinese owner, missed a significant payment to Oaktree Capital Management, the US investment firm seized control of the Serie A champions. The loan granted to the Chinese holding company was secured by its stake in the football club, leading Oaktree to take over ownership. This development marks Inter as the seventh Serie A club with US owners, signifying a shift in ownership dynamics in Italian football.
https://store.livarava.com/ad0ec831-1833-11ef-a3d1-9d5fa15a64d8.jpg
Oaktree Capital Management Assumes Ownership of Inter After Chinese Owners Miss Payment

US Investment Firm Seizes Control of Serie A Champions Inter

Suning’s loan was guaranteed by stake in Italian club

Inter become seventh Serie A club with US owners

United States-based investment fund Oaktree Capital Management said on Wednesday it has become the new owner of Serie A champions Inter after a missed $428m (£336m) payment from the club’s Chinese holding company, Suning.

Granted in 2021 to the Luxembourg-based vehicle through which Chinese conglomerate Suning controlled Inter, the loan was guaranteed by the firm’s stake in the club. Under the scheme, Oaktree had the right to take control of the club in the event of a default.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe