Suning are not only in talks with Oaktree Capital as they aim to keep control of Inter Milan.
This according to journalist Marco Bellinazzo of Italian business newspaper Il Sole 24 Ore. He updated on the Nerazzurri owners’ plans speaking to Radio Radio, via FCInterNews.
With each day that passes, the future of Inter’s ownership gets closer to being clarified.
Current owners Suning have less than two months to go to repay a sizable loan to US-based fund Oaktree Capital.
The Nerazzurri owners took on that loan in May of 2021.
This allowed Suning to cover operating costs at Inter during a pandemic-related financial crisis.
But Suning put Inter up as collateral for the loan. Therefore, if the Nerazzurri owners do not pay back the loan including interest by the due date – this May – control of the club would passs into the hands of Oaktree.
Reports indicate that Suning have been trying to negotiate an extension of the deadline with Oaktree. This would see an increase in the interest on the loan.
But so far the Inter owners have not convinced Oaktree on a deal.
But there could be other options for Suning in their efforts to stay at the helm.
Bellinazzo: Suning Not Just In Talks With Oaktree, Want To Stay At Inter
Bellinazzo updated that “As far as Inter’s owners, there is a problem called Oaktree.”
“This is not an issue for Inter directly. But it is significant for the company that is above Inter in the chain of control.”
“The deadline on the loan is close,” Bellinazzo said.
The prominent Italian finance journalist explained that “The talks between Inter and Oaktree are moving along. But there is still no decision made on refinancing.”
“In addition to the talks with Oaktree, Zhang and Suning are also carrying out negotiations with other funds,” he explained.
“There is a fair bit of optimism on their part that they can gain more time with higher interest,” Bellinazzo said.
The journalist was clear that “The Inter owners don’t want to lose control of the club.”
