Departing Inter Milan owners Suning will reportedly avert from taking legal action against Oaktree Capital following the club’s takeover.
The Chinese group failed to repay the American company’s debt by the deadline. Therefore, Oaktree assumed control over Suning’s majority shares at the Italian club.
In the last hours before the deadline, departing Inter president Steven Zhang made an interesting statement. He claimed that legal threats impeded his attempts to refinance the debt.
Many felt that these words were an introduction to an inevitable legal battle between the two parties.
Nevertheless, Il Sole 24 Ore (via FcInterNews) explains why Suning won’t be suing Oaktree.
The source reveals that Oaktree’s audit consultants KPMG have valued Inter at over 1 billion euros while taking into account the club’s debts.
As the report explains, in case of a future sale, Suning will collect the fee after deducting the loan they took from Oaktree along with its interest rate, as well as the club’s debts (worth 415 million euros).
So based on the club’s current valuation, the Chinese group should be able to recover their initial investment in the club, at least partially.
Why Suning Won’t Take Legal Action Against Oaktree Following Inter Milan Takeover
There’s also a possibility of exceeding the original investment, but it depends on the offers Oaktree will receive.
In the meantime, the American-based investment company will be looking to exploit new revenue streams to increase the club’s income.
Oaktree considers the new stadium project as fundamental for the club’s future.
The new owners can also count on increasing revenues thanks to the new Champions League format.
Moreover, the Nerazzurri will take part in the first-ever edition of the expanded FIFA Club World Cup, which will ensure additional prize money.
