Current Nerazzurri owners Suning have a plan to avoid having to sell Inter Milan despite ongoing financial difficulties.
This according to today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews, who report that the current Inter owners plan to look for minority investment as well as renegotiate the looming due date of a massive loan from Oaktree Capital.
Inter’s financial problems since the start of the pandemic are no secret.
The Nerazzurri owners had to take on a massive loan from US fund Oaktree Capital in May of 2021. This was to cover heavy operating losses and inject liquidity into the club.
There is still a significant chunk of the €275 million Oaktree loan remaining to be paid off.
With interest, the total amount that the Inter owners will have to pay around €350 million to the US-based fund.
Given that Suning took on the loan in order to cover operating costs at the Nerazzurri in the aftermath of the initial financial shock of the pandemic, the club was put up as collateral, and would pass into the hands of Oaktree were it not to be paid off on time.
Suning Keen To Keep Control Of Inter Milan Despite Financial Problems
Unsurprisingly, there have been no shortage of rumours about Suning selling Inter.
Bahrain-based fund InvestCorp are reportedly keen. Meanwhile, last week the name of Finnish billionaire Thomas Zilliacus emerged as a candidate to buy the Nerazzurri.
As long as the due date for the Oaktree loan is looming, Suning’s hand could be forced.
The current owners will not want to risk control of the club passing into the hands of Oaktree.
However, Tuttosport report, Suning believe that they can renegotiate terms on the loan.
If the Nerazzurri are to refinance the loan and push the due date back a few years, they’d have breathing room.
Moreover, the newspaper note, the Inter owners’ search for minority investment continues. If Suning can find investors, they could potentially steady the financial situation at the club.
