Oaktree Capital will not join Inter as a shareholder despite their €275 million deal with Suning, according to a report in the Italian media tonight.
Reports have differed on whether the Los Angeles-based private equity firm will take over Lion Rock Capital’s 31.05% stake, or if they will simply provide financing.
Il Sole 24 Ore said Inter’s shareholder structure would not change as a result of this deal, meaning Suning remain with 68.55% while LionRock keep their 31.05% shares.
In any case, Suning have pledged their stake in Inter as collateral in the deal with Oaktree, meaning they will become the club’s owners in three years’ time if Suning don’t respect the terms of their agreement.
After months of negotiations, Inter president Steven Zhang finally signed the much-needed deal tonight which will ease the club’s financial woes.
Oaktree will pay the €275 million to Suning’s holdings company, Great Horizon, after which €240 million of it will be redirected into Inter’s accounts.
Suning need the money to help cover Inter’s costs for the remainder of this season and for the start of next season, the report explained.
They are hoping to reduce Inter’s operating costs (between their wage bill and amortised player values) this summer by 15-20%, from its current value of €325 million.
