US-based fund Oaktree Capital could make a shock offer to buy Suning out at Inter before their loan expires in May of next year.
This according to Italian broadcaster Sky Sport Italia, via FCInter1908, who report that the US fund could decide to submit a bid to take over the Nerazzurri as interest rises from other potential bidders including InvestCorp and Leeds United owner Andrea Radrizzani.
Reports have intensified in recent weeks that Suning could decide to sell Inter, with one of the key factors in this being the fact that the loan that they took on from Oaktree in 2021 is set to expire in just over twelve months’ time.
Suning took in the massive loan, at €275 million, to cover operating liquidity at the club in the wake of post-pandemic financial problems.
However, there is still some way to go before the Nerazzurri owners are able to repay the loan, which would entail a total of €350 million in May of 2024 with interest.
If they are unable to do so then control of the club would pass into the hands of Oaktree as Inter was put up as collateral for the loan.
As such, the pressure is mounting on Suning to consider offers for the club, given that refinancing the Oaktree loan is proving difficult amid a climate of high interest rates.
Sky confirms the interest of Bahrain-based fund Investcorp in taking advantage of the situation by making an offer for the Nerazzurri, whilst they also report that Leeds United owner Radrizzani is indeed among potential bidders although his interest is still in the initial stage.
However, the Italian broadcaster propose another serious possibility, namely that Oaktree themselves could decide to put in an offer to buy Suning out.
Whilst the US-based fund could wait until the loan has to be repaid by Suning and should they fail to do so, take over the club, Sky reports that they may not even wait that long.
The Italian broadcaster reports further that there is a serious possibility that Oaktree could instead test the Nerazzurri owners’ resolve with an offer already in the coming months to buy the club outright with part of the sum of the loan they are owed being used as part payment in the purchase price.