Serie A: Oaktree Capital takes over Inter Milan

Oaktree Capital Takes Control of Inter Milan After Debt Default

The American investment firm officially took control of the Italian football club after Suning Group failed to repay a debt of approximately €400 million.

Failure to Repay Debt 

Suning Group took out a loan with Oaktree Capital three years ago, shortly after Inter Milan won the Serie A title. However, the group failed to meet the deadline to repay the debt, resulting in Oaktree Capital taking control of the club.

Inter Milan's financial struggles

The club has been facing financial difficulties, with significant losses in recent years due to the COVID-19 pandemic. The takeover by Oaktree Capital aims to bring financial stability to the club.

Additionally, Alejandro Cano, managing director of Oaktree Capital, stated that the company is committed to the long-term success of Inter Milan and recognizes its responsibility to the club's community, history, and legacy.

Oaktree Capital's initial focus will be on achieving operational and financial stability for the club, with a commitment to working closely with the current management team.

However, Inter Milan is the seventh Serie A club to come under American ownership, joining AC Milan, Atalanta, Fiorentina, Roma, Genoa, and newly-promoted Parma.