Inter owners Suning will have to show progress in their financial plan for the club as a condition of receiving the remainder of the €275 million loan from Oaktree Capital, Italian media are reporting.
In today’s print edition of Turin-based newspaper Tuttosport it is reported that while €50 million of the loan has already been paid out to the Nerazzurri, the remaining amount is yet to be paid out.
A key condition of the loan is that Suning will only receive the next amount if certain financial objectives are met, namely the reduction of the wage bill at the club by 20% and the overall reining in of expenses.
Tuttosport suggests that these conditions show that Oaktree intends not only to be Suning’s creditors, but also to have a say in the direction of Inter from a financial perspective.
Oaktree appear to have as their agenda the stabilizing of Inter’s economic situation from the volatile state it has been left in due to Suning’s debt and the loss of revenue caused by the COVID-19 pandemic.
These factors explain why the Nerazzurri have been undertaking a drastic financial project involving the sale of key squad members.
News regarding the shirt sponsor to replace Pirelli is expected by the end of June, which could also have a significant impact on Inter’s financial situation.
