Inter President Steven Zhang looks to have sent a clear signal regarding his intentions for the future at Inter with the cash injection that will be put into the club by Suning.
This according to today’s print edition of Rome-based newspaper Corriere dello Sport, who report that sources close to the President ensure that he will not let the club default on their loan from Oaktree Capital and that the plan is still to look for investment from minority shareholders.
Inter will confirm significant losses for the fiscal year ending in June 2022 in their board of directors meeting today, and the President is expected to announce that a cash injection from the Oaktree loan will be used to cover most of the losses.
This is significant as it shows that no further debt needs to be taken on and the President appears to feel that he can continue on and guarantee liquidity at the club despite continued losses.
The loan will come due in 2024 and it is not currently clear how it will be repaid in full, important given the possibility that Oaktree could take control of the Nerazzurri if Suning fail to pay it back on time.
A big name sale is still all but inevitable by the end of June of next year, whilst Suning are always on the lookout for investment in the club to bring more cash in.
However, the cash injection to cover the losses of the fiscal year just gone looks to be an important sign regarding the current President’s intentions.