Oaktree, a US-based investment firm, is purportedly contemplating assuming control of Inter as club president Steven Zhang grapples with a debt exceeding €350 million. The owners of Nerazzurri, Suning, owe Oaktree, experts in capital management, an amount surpassing €275 million, compounded by approximately €75 million in accrued interest. These obligations are slated for settlement by the deadline of May 20th. Zhang has been actively engaged in discussions with Oaktree, endeavoring to formulate a new agreement.
According to Corriere dello Sport, Zhang proposed an immediate payment of roughly €100 million to Oaktree, representing the entirety of the interest accrued on the €275 million loan since its inception in May 2021. This proposal was intended to secure an extension of the loan period to either May 2026 or 2027, accompanied by an escalated interest rate of 16%, equating to €45 million annually.
However, Oaktree found this offer unconvincing, prompting Zhang to return with an alternative proposal featuring a heightened interest rate of 20%, translating to nearly €60 million per annum. Initially, Nerazzurri’s owners presumed that Oaktree preferred to prolong the loan term given the absence of alternative buyers, but this assumption proved incorrect.
Oaktree harbors concerns that the club’s value may depreciate under the current management approach. Consequently, they are contemplating assuming control of the Milanese club once the loan deadline elapses on May 20th.
As of now, no definitive decision has been reached, and negotiations between the two parties are expected to persist over the ensuing two months. Zhang is fervently striving to avert relinquishing control of Nerazzurri.