Inter owners Suning have focused on financial sustainability as one of their key strategies in recent transfer windows, and the principle reason for this is the company’s desire to pay back a massive loan from US-based fund Oaktree Capital on time.
This according to today’s print edition of Milan-based newspaper Tuttosport, who report that Suning want to ensure that the cash is available to pay back the €275 million loan before the summer 2024 deadline.
Suning took in a €275 million loan from Oaktree last summer as they were unable to support the club’s operations, and the loan ensured the necessary liquidity to run the club for several seasons by paying player wages and other operating costs.
The loan has an onerous interest rate of 10%, however, whilst the summer 2024 deadline looms particularly in view of the fact that Oaktree would be entitled to shares in the club if it is not paid back in full.
Accordingly, Suning have put a strict focus on financial sustainability and meeting financial targets with the intention of paying back the loan on time, or at least having room to renegotiate and avoid the nightmare scenario of not being able to pay it back.
