A report in the Italian media reveals why Oaktree Capital have agreed to postpone the loan deadline of Inter Milan owners Suning.
The Chinese group took a loan worth 275 million euros from the American investment company in May 2021. The aim was to cover the club’s operational costs following the financial losses suffered in the aftermath of the pandemic.
Based on the original agreement, Suning must repay the amount plus its interest before May 20th, 2024.
But this morning, several Italian news sources reported that Suning and Oaktree are close to finding an agreement over a deadline extension.
This would allow the Chinese company to maintain its hold on the Italian club. The two parties could push back the deadline for another year or two.
But according to Il Sole 24 via FcInterNews, Suning’s future at the club remains in great doubt.
As the source explains, the main reason behind the loan extension is gaining additional time to find a definitive solution.
Inter Milan Owners Suning & Oaktree Capital Seeking Additional Time To Find New Investors
Italian journalist Carlo Festa reveals that Suning and Oaktree are now working on finding new investors.
This could either be a group that is looking to buy the club from Suning, or willing to refinance the debt. The latter solution would effectively take Oaktree out of the equation.
So while the imminent agreement with Oaktree is a relief for the club owners, this saga remains far from over.
But in the meantime, the Nerazzurri management will be looking to resume business as usual. Beppe Marotta and company will begin plotting for the summer transfer market after learning that club president Steven Zhang will remain at the helm.
