Oaktree Capital are ready to officially announce their takeover of Inter Milan from current owners Suning on Wednesday.

This according to Italian outlet Gazzetta.it. The Gazzetta report that the US-based fund already has everything in place to make their control of the Nerazzurri official.

For the time being, at least, Suning are still Inter owners.

The Chinese company continue to have control of their majority stake in the Nerazzurri.

But at this stage the clock is well and truly ticking.

The Gazzetta note that midnight on Tuesday evening is essentially the point until which Suning will remain Inter owners.

That is the point by which the Nerazzurri owners must repay their debt to Oaktree.

Today is actually the deadline for the loan, per the agreement from the spring of 2021. However, today is a public holiday in Luxembourg, the location of the holding company that Suning own their shares in Inter through.

Oaktree Capital To Make Takeover Of Inter Milan From Suning Official On Wednesday

If tomorrow passes without Suning repaying their debt to Oaktree in full, however, then the Chinese company will officially default.

Therefore, on paper per the terms of the agreement, Oaktree can officially begin the process of repossessing Suning’s shares in Inter as soon as Wednesday.

What hasn’t been entirely clear is what that process will look like.

The US-based fund have been reported to not want to actually take over at Inter for many months and even years since making the loan to Suning.

There have been rumours that Oaktree could grant Suning an extension so that the Chinese company can sell Inter.

There have also been reports that an immediate sale could be in the works if Oaktree have already lined up a buyer.

But according to the Gazzetta, Oaktree will in fact take over Inter. They have made the decision to exercise their right to repossess Suning’s shares in the club.

Moreover, the US fund are not going to wait around.

The Gazzetta anticipate that Oaktree have already prepared a statement. As soon as they are able to per the terms of their agreement with Suning, they will publicly announce their intent to take over Inter.

Then, the Nerazzurri will go into the future past this Wednesday with a new owner at the helm.