Inter Milan owners Suning are reportedly close to securing an agreement with Oaktree Capital that would keep them at the club’s helm.
The Chinese group loaned 275 million euros from the US-based investment company back in May 2021. The aim was to cover the club’s operational costs.
Based on the original agreement, Suning would have to repay the amount in addition to the interest before May 20th, 2024. This sum has reportedly exceeded 350 million euros.
But since the club owners aren’t willing to forge this amount, they have been working on an alternative solution.
According to La Gazzetta dello Sport via FcInter1908, Suning and Oaktree are on the verge of finding a new agreement.
The new accord would extend the deadline by another year, or two years at most. The deal could include a rise in the interest rate (currently set at 12%).
This would allow Suning to catch their breath as the club’s finances continue to recover from the post-Covid blows. It might also give the two parties time to find a new buyer.
Inter Milan Owners To Secure An Agreement With Oaktree Over Loan Deadline Extension
Back in 2021, Inter’s balance sheets registered losses of 250 million euros. While the numbers remain in the red, the Nerazzurri managed to lower the deficit to a figure between 40 and 50 million.
This is mainly thanks to the club’s strategy revolving around low-cost signings while selling some of their stars for large figures.
Nevertheless, Giuseppe Marotta and company still provided head coach Simone Inzaghi with a competitive squad.
The club’s exploits in the Champions League (particularly last season) have been a major booster for the club’s finances.
This new agreement will restore serenity at the club, allowing the management to resume business as usual.
Inter will also turn their attention to the new stadium project. Their current options at the moment are building their own ground in Rozzano or embarking on a project to renovate San Siro along with AC Milan.
