MILAN. Now it’s official. Suning and Oaktree Capital have closed the agreement for an investment of 275 million that will be used by the Californian fund to buy 31.05% of Inter from the Lion Rock fund in Hong Kong and will allow to introduce new liquidity in the Nerazzurri coffers, tested by the economic crisis last months of its Chinese ownership: “Following a due diligence process and with a common long-term vision of the project, a shareholder-level financing transaction with funds managed by Oaktree Capital Management was finalized today. With this loan, the shareholder will continue to support FC Internazionale Milano, with the aim of overcoming the difficulties and opportunities lost during the Covid period ”, reads the official note certifying the conclusion of the negotiations.
The clarification on the “shareholder level financing” confirms that Oaktree will immediately take possession of 31.05% of the Nerazzurri stakes. And the reference to “a common long-term vision of the project” shows that Oaktree’s intentions are those of a lasting partner destined to increase its stake over time, certainly not a simple creditor fund. Inter wins the necessary resources to overcome Suning’s very delicate economic moment. The scheme of the operation has been confirmed. With a total investment of 336 million dollars (275 million euros), Oaktree will buy 31% of Inter from the Lion Rock fund in Hong Kong and will grant Suning a maxi-loan. In three years, if the Zhang family fails to pay off the debt, Oaktree will become the majority shareholder. Tom Pitts, Lion Rock representative, will leave the Inter board to make room for the Oaktree managers who intend to complete the first adjustment phase by mid-June.
The clear sky returns to the Pinetina where the happiness of the new Italian champions had been partly conditioned by the looming financial clouds, symbolized by the request to cut the salaries of president Steven Zhang to the team. In any case, it will not be possible to increase the costs. Inter will not be able to acquire new stars. But he will be able to keep the cornerstones of Antonio Conte’s team: De Vrij, Bastoni, Hakimi, Barella, Lukaku and Lautaro Martinez. Vidal and Perisic could leave to lighten the amount of wages. Now the confrontation between Conte, Zhang and the executives will take place. The coach wants to stay because he dreams of the second star. In the next few days he will be reassured by the owners in the meeting with Steven Zhang and the Nerazzurri management.