Inter Milan have finally announced the change of ownership from Suning to Oaktree Capital through an official note.

The club’s departing Chinese owners failed to repay their debt to the US-based investment company by Monday’s deadline.

Therefore, they relinquished their shares in the Italian club to Oaktree who are now in control.

The American fund had already announced the transfer a couple of days ago. The company’s officials even visited the club’s headquarters and held talks with Inter CEOs Beppe Marotta and Alessandro Antonello.

However, the Nerazzurri remained publicly silent at first.

Nevertheless, they have now released a statement confirming the transition via the club’s official website.

The official note explains the situation in detail. It also mentions the subsidiary companies that both Suning and Oaktree use to control their stakes at the club.

The note confirms that Oaktree has acquired indirect control of 99.6% of the club’s capital shares.

“On May 22, 2024, F.C. Internazionale Milano S.p.A. (“Inter”) received a notice from its shareholder Grand Tower S.à r.l. (“GT”) – holding a 68.55% stake in the share capital of Inter – with which it has been informed, inter alia, (i) of the enforcement of the pledge on the shares of Great Horizon S.à r.l. (sole shareholder of Grand Sunshine S.à r.l. which, in turn, is the sole shareholder of GT) (“GH”)by GLAS Trust Corporation Limited (“Security Agent”), as agent, and OCM Luxembourg Sunshine S.à r.l. (“OCM” an entity related to funds managed by/entities affiliated with Oaktree Capital Management, L.P.(“Oaktree”)), as vehicle designated, appointed and authorised by the Security Agent; and (ii) of the circumstance that, as a result of the aforesaid enforcement, OCM acquired direct control of 100% of the share capital of GH and, therefore, indirect control of Inter.

Inter Milan Officially Announce Oaktree Capital Takeover From Suning

“On the same date, Inter was further informed that GH has also acquired control and ownership of LionRock Zuqiu Limited, a company that indirectly holds 31.05% of Inter’s shares through its subsidiary International SportsCapital S.p.A.

“As a result of the above, Oaktree has acquired overall indirect control of 99.6% of the share capital of Inter.

“No Change of Control Triggering Event is outstanding under the €415,000,000 Inter Media and Communication S.p.A. 6.750% Senior Secured Notes due 2027 (“Senior Notes”) and none of the events above have caused any Default or Event of Default under the Senior Notes.

“No forward looking statements are being made in this announcement and all statements are made only as of the date of the announcement,” concluded the statement.

In the meantime, most accounts expect the club’s sporting department to remain intact. Therefore, Marotta and Piero Ausilio should be at the helm.