Suning run risk of losing their ownership stake of Serie A club Inter Milan to American asset management firm Oaktree.
This according to today’s print edition of Rome based newspaper Corriere dello Sport, as reported via FcInterNews.
The report states further, that the difficulties pertaining to building a new stadium, as well as the nearing of the May 2024 date when Suning’s loan to Oaktree must be paid in full, could complicate matters for the Chinese company.
Suning are asking over €1 billion in cash to sell Inter, but time is ticking as they have used their ownership of the club as collateral to secure a €275 million loan from Oaktree, a loan which as stated, must be paid in full by May 2024.
Reports in Italian media in recent weeks claims that Suning are struggling to refinance the Oaktree loan and as such, could be forced to either sell Inter Milan at a lower price or risk losing ownership stake of the club.
Furthermore, it has been widely reported recent months, that Oaktree have no interest in running Inter Milan and wish to sell the club on quickly, should Suning default on repaying their debt.
Investors Including Investcorp Eyeing Inter Milan
Therefore, according to Corriere dello Sport, it isn’t difficult to imagine that many investors are eyeing a potential bid for Inter Milan closer to May 2024, but at a far lower price tag than the €1 billion Suning are asking for today.
The closer we get to the May 2024 deadline when Suning have to repay the debt to Oaktree with interest, which according to Corriere is around €350 million, Suning’s hand could be forced to lower their asking price or lose their stake in Inter Milan to Oaktree.
Global investment fund Investcorp, is one of these suitors, the report continues, but they are currently busy putting together a group of investors, primarily from Bahrain, before launching an official bid.
