Oaktree Capital Management has officially taken ownership of Italy's Serie A champion Inter Milan football club. The US-based investment firm assumed control after the club's previous Chinese owners, Suning Group, defaulted on a €368 million loan. Suning had borrowed the amount but failed to repay it by the deadline, leading to the takeover. The total debt, including interest, was close to €400 million. This marks the second time in a decade that a Chinese owner has lost control of a Milan football club to a US investment firm. Oaktree Capital's involvement follows similar actions taken against China's Evergrande. PIMCO was reportedly in talks to refinance the debt but it fell through. The future of Inter Milan under Oaktree's ownership remains uncertain, with the firm indicating it may not hold onto the club for long.
Oaktree seizes control of #InterMilan: https://t.co/T1u2SEGn33
Global News | Oaktree says it takes ownership of Inter Milan Football Club: Agencies @Oaktree @Inter_en https://t.co/P7WhO9hJMX
L.A.–headquartered fund firm Oaktree says it’s assumed ownership of Serie A champion Inter Milan. https://t.co/zp9hixDTTd
Oaktree just liquidated Alexis Sanchez :( https://t.co/Rk3xe78Wrv
Oaktree is set to be taking over the Italian soccer club Inter Milan after existing owners failed to repay roughly $400M in debt repayment to the lender PIMCO was reportedly in talks to refinance the debt but it fell through due to the right timeline Fascinating development https://t.co/f1HQUwdtwU
How Chicago-based investment firm Oaktree Capital looks to have become the owner of legendary Serie A club Inter Milan. https://t.co/zp9hixDTTd?
Oaktree Capital seizes control of Inter Milan ⚽️ after Chinese owner fails to repay loan https://t.co/uTpE1ZEdjR
Oaktree Capital Management takes ownership of Italy's Inter Milan football club after its owner defaults on a loan https://t.co/MUI04ojifO via @markets
Oaktree Capital took ownership of Italy’s Inter Milan after its Chinese owner defaulted on a loan - Bloomberg https://t.co/5sdktrtJEX
Inter Milan have been taken over by US investment fund Oaktree after the Serie A champions' Chinese owners Suning missed a 395 million euro debt repayment deadline. More ⬇️ #BBCFootball
🇺🇸 Oaktree Capital have taken over Inter Milan — the Nerazzurri — after repossessing the shares of the club’s previous owners 🇨🇳 Suning. Suning owed Oaktree a total of close to €400 million including interest. May 21 was the final day for Suning to repay that debt in full, but… https://t.co/E5spBrnx3f
US investment firm seizes control of Inter after missed payment from Chinese owners https://t.co/F4P8wXAYZT
Oaktree says it’s now the owner of Inter Milan after soccer club failed to repay loan https://t.co/UtwxfuggKg
History repeats... Oaktree seizes control of Inter Milan after Chinese owner fails to repay loan https://t.co/ttGTX04WiC
US fund Oaktree 'assumes ownership' of Inter Milan https://t.co/2yzT2JTtMT
Oaktree seizes control of Inter Milan after Chinese owner fails to repay loan https://t.co/09yr1diNji
American fund Oaktree takes over Serie A champion Inter Milan after previous owners failed to repay loan https://t.co/eQf8maZwze
Soccer Oaktree takes ownership of Inter Milan after missed payment https://t.co/aBWl7jOMf7 https://t.co/eqZnKDCfdA
Oaktree has taken over Inter Milan after loan wasn't repaid https://t.co/b2Cu9fQvqY
Oaktree Capital Management takes ownership of Italy's Inter Milan football club after its owner defaults on a loan https://t.co/fppeP14E9d
Chronicle of a takeover foretold. Oaktree seize Inter and become new owners after Suning default on €395 debt. What next for Zhang? https://t.co/MMK1vZ4vDI
Scenes: for the second time in a decade, a Chinese owner loses control of a Milan football club to a US investment firm! Anyone surprised at Oaktree's swoop on Inter should read our 2022 deep dive after it seized trophy properties from China's Evergrande https://t.co/EFkH8pvYEA
*Oaktree taking over Inter Milan* Howard Marks "As I said in my previous memo, while this may be the time to be aggressive in the transfer window, this also may not be the time to be aggressive in the transfer window"
Inter played with leverage and got liquidated I guess its not just apes https://t.co/zBEv0Xk5Z3
The slow & chaotic retreat of Chinese money from European football continues. With Suning defaulting on a debt to Oaktree Capital Management, the US fund takes control of Italian champions Inter. Oaktree won’t want to be in charge for long. https://t.co/ODU2MY5QRB
⚫️🔵 Inter are now officially owned by American fund Oaktree. Oaktree Capital has taken control of the club after Suning Group's €368m loan was not returned, no agreement reached. https://t.co/UXSp9oPXjm
Wednesday The Decisive Day – Oaktree Capital Prepare Announcement Of Inter Milan Takeover From Suning https://t.co/NVzvwJdepn
Pressure is building for Inter Milan FC’s majority stakeholder Suning as a deadline has arrived for the Chinese retail giant to repay a multimillion-euro loan or risk losing control of the club. https://t.co/gLuu62Y5WS
Inter Milan's debt deadline with Oaktree is nearing the end, adding suspense to the situation. #InterMilan #DebtDeadline
The days of Suning Holdings at the helm of Inter Milan look numbered as a deadline draws near to either repay debt due to Oaktree Capital Management or risk ceding control https://t.co/Ur5UDq7e4g
With 48 hours until the debt comes due, Inter Milan’s owner goes studs up on its main creditor. https://t.co/3AvMi1oQJY
Soccer Inter Milan owner warns over club's stability as loan expiry date looms https://t.co/FPgYa4nNM1 https://t.co/cYyZiLAQNN
Inter Milan’s owner says its creditor Oaktree Capital Management has lacked "meaningful engagement" to find a solution for the club’s debt obligations https://t.co/oKpNG2R6Wb
Long read on Inter's ownership situation here. Owners need to find ~ €395m by midnight on Tues (Monday is a bank holiday in Luxembourg where the holding company is based) or refinance the loan otherwise they lose the club. Things could get very messy https://t.co/XP8YMHHRuF