Inter Milan owners Suning are on the cusp of reaching a new agreement with Oaktree Capital to extend the loan’s deadline.
In May 2021, the Chinese company loaned 275 million euros from the US-based investment group to cover the club’s operational costs.
As per the original agreement, Suning must repay the full amount in addition to the interest rate by the 20th of May 2024.
Therefore, Inter president Steven Zhang has been seeking a solution that keeps him and his company at the club’s helm.
In recent days, circulating reports claimed that Suning are working on a new agreement with Oaktree. The Chinese group is reportedly looking to postpone the deadline.
According to Tuttosport via FcInterNews, Suning have managed to find a breakthrough in the negotiations with Oaktree.
The Turin-based newspaper claims that the two parties are now ironing out the last details before reaching a final solution.
The source notes that Goldman Sachs and Raine Group are playing an important role in the talks, acting as Suning’s advisors.
The report expects the new agreement to push back the deadline for a couple of years.
Inter Milan Owners Suning About To Reach Full Agreement With Oaktree Over Deadline Extension
However, the Nerazzurri owners won’t receive additional money in the process. In fact, they still have 100 million euros from the original loan that hasn’t been utilized.
On the other hand, the new agreement will further raise the interest rate (currently set at 12%).
Nevertheless, Tuttosport believes Suning would be able to manage the situation thanks to the club’s increased income. This is mainly due to the club’s successful Champions League campaigns and their qualification for the 2025 Club World Cup.
Finally, the source claims that Inter won’t need to sell a top player in the summer thanks to their more stabilized finances.
But if they were to sell a major name, they would reinvest the money on a competent replacement.
