Official – Inter Confirm Oaktree Capital Provided €50M Cash Injection Last Week To Boost Nerazzurri’s Finances

Official – Inter Confirm Oaktree Capital Provided €50M Cash Injection Last Week To Boost Nerazzurri’s Finances
May 28, 2021 17:20
( )

Inter have confirmed they received a €50 million cash injection from new investors Oaktree Capital last week.

The Nerazzurri’s owners Suning secured a €275 million financing deal for the club from the US-based private equity firm, in order to boost their financial position.

Oaktree Capital have arrived in a bid to help Inter meet all their upcoming payment deadlines, including player salaries and transfer installments to other clubs.

Inter revealed in a financial statement published today: “Since the beginning of the pandemic in late February 2020, which has put strong pressure on the group’s revenues and cash, we have undertaken a number of actions to preserve liquidity, as much as possible.

“This includes the deferral of the payments of salaries to players and coaching staff.

“All of the foregoing has occurred in full agreement with the counterparties and in full compliance with sporting regulations set forth by the FIGC and UEFA.

“On 20th May 2021, our majority shareholder has closed a new financing transaction, with the purpose of supporting our group to improve cash flow position before reaching a breakeven operation target.

“Immediately after the closing, we have received a €50m cash injection through a shareholder loan provided to TeamCo; in addition, we also collected €22.2 million through payment of commercial contracts with related parties (payment made to both TeamCo and MediaCo).”

Suning have owned Inter since they purchased a 68.55% stake in the club from Erick Thohir in 2016, but things have become very difficult since the COVID-19 pandemic began.

Inter were forced to part company with Antonio Conte on Wednesday after failing to grant him the transfer reassurance he wanted, with Simone Inzaghi lined up to replace him.

Suning are widely expected to try and cut costs by 15-20% this summer, while seeking an €80 million profit from player sales.

By Will Beckman

Video – Inter Share Facts & Figures About Their Record Against Udinese

October 30, 2021 06:30
( )

Inter has shared a video to its official Instagram page of all the facts and figures that fans need to know about previous meetings with…

Photo – Inter Share Halloween Photos Of Players Past & Present: “Discover Them All If You Dare”

October 30, 2021 04:30
( )

Inter has shared a series of Halloween themed photos to its official Instagram page that show current Nerazzurri players as well as ones from the…

Photo – Lautaro Martinez’s Partner Shares Family Photo After Inter Contract Renewal: “Always Beside You”

October 30, 2021 02:30
( )

Lautaro Martinez’s partner has shared a photo of the pair holding their baby in the Inter headquarters after the striker signed his new contract at…

Inter Could Move For Sassuolo’s Giacomo Raspadori In January If Alexis Sanchez Leaves, Italian Media Report

October 30, 2021 00:30
( )

Inter could attempt to sign Giacomo Raspadori from Sassuolo in January if they can offload Alexis Sanchez to another team, according to a report in…

Inter Midfielder Roberto Gagliardini: “Winning The Scudetto Is Among My Best Ever Moments”

October 29, 2021 23:59
( )

Inter midfielder Roberto Gagliardini has spoken of the pride that winning the Scudetto with Inter gave him last season, according to a report in the…

Juventus Coach Max Allegri On Scudetto Race: “I Think Inter Are Still Favourites”

October 29, 2021 23:30
( )

Juventus boss Max Allegri has labelled Inter as the favourites to lift the Serie A title this season despite being third in the table so…



to our newsletter