Inter President Steven Zhang ‘Playing For Time’ With €275M Deal From Oaktree, Italian Media Explain

Inter President Steven Zhang ‘Playing For Time’ With €275M Deal From Oaktree, Italian Media Explain
May 21, 2021 13:45
( )
SempreInter.com

Steven Zhang is buying himself and Suning more time at Inter by securing a loan with Oaktree Capital, a report in the Italian media explained today.

As per Gazzetta dello Sport’s print edition, Suning have three years to repay the €275 million (plus interest) they have received from the US-based private equity fund.

If Inter’s owners can’t respect those terms then they will lose control of the club, having pledged their 68.55% stake at Inter as collateral, leaving Oaktree to take over.

This is a similar arrangement to the one that saw Elliott Management replace Yonghong Li as AC Milan owners in 2018.

Zhang has three reasons to believe Suning will find the money in time to repay the loan and stay in charge at Inter, the Milan-based paper explained.

These three sources of income are Inter’s continued presence in the UEFA Champions League, the return of fans to stadiums and cutting costs at the club.

Inter will use €240 million of the €275 million deal to cover costs for this season and the start of next season, and none of it will go towards financing their summer transfer campaign.

The Nerazzurri’s business will need to be self-financed, and Oaktree will not interfere in the transfer window.

By Will Beckman

Photo – Inter’s Federico Dimarco After Empoli Win: “Great Victory & Happy With The Goal”

October 29, 2021 08:30
( )

Inter defender Federico Dimarco has expressed his happiness at Inter’s 2-0 win over Empoli on Wednesday night and the fact that he scored in the…

Video – Inter Sporting CEO Beppe Marotta: “We Want To Proudly Defend The Scudetto”

October 29, 2021 06:30
( )

Inter’s Sporting CEO Beppe Marotta has stated the clubs aim to defend the Serie A title that was won in the 2020/21 season under Antonio…

Video – Inter Corporate CEO Alessandro Antonello: “The New Stadium Project Will Be Essential”

October 29, 2021 04:30
( )

Inter’s Corporate CEO Alessandro Antonello has explained the importance of the new San Siro project for the future of the club. Speaking as part of…

Video – Lautaro Martinez Sends Message To Inter Fans: “Forza Inter”

October 29, 2021 02:30
( )

Inter striker Lautaro Martinez has filmed a short video of himself addressing the Inter fans having just signed his new contract with the club. The…

Ex-Inter Forward Alessandro Altobelli On Inter’s Scudetto Hopes: “So Far They Are Not On Par With AC Milan & Napoli”

October 29, 2021 00:30
( )

Former Inter striker Alessandro Altobelli has said that Inter are not on the same level as the two teams ahead of them in the table,…

Ex-Inter Defender Lele Adani On Alexis Sanchez Assist vs Empoli: “A Touch Of Absolute Class”

October 28, 2021 23:59
( )

Former Inter defender Lele Adani has praised Alexis Sanchez after his positive performance against Empoli on Wednesday night, according to a report in the Italian…

Close

Subscribe

to our newsletter