MILAN. Oaktree Capital seems ever closer to closing Inter’s rescue operation. The Californian fund is currently ahead of Bain Capital, the other American group in the running. This could be the decisive week to sign the agreement capable of giving respite to the Nerazzurri coffers, tested by the Suning liquidity crisis.
The Oaktree managers, after weeks of negotiations, are filing the final details of an operation that provides for a maxi-financing in parallel with the purchase of 31% of Inter from Lion Rock for a total investment of 300 million euros. Numerous phone calls were made between the top management of the Los Angeles-based fund and Steven Zhang. The scheme requires a very complex revision work because there are so many tiles to combine. Time is running out for the Nerazzurri club. Today the FIGC partially accepted Serie A’s request for a shift in federal controls on the regular payment of salaries. But only for one month: from May 31st to June 30th. Not more. In any case, the problem is not only of a bureaucratic and regulatory nature. It is necessary for Inter to be able to quickly pay the salaries of their players.
Even from within the Nerazzurri club, confirmation comes that Oaktree would be in the lead. The transaction, technically defined as an “equity upside”, would allow Suning to snatch lower interest rates as Oaktree hopes to also gain from its 31% revaluation. The next few days will tell if the rumors, which give the Californian fund in front of Bain Capital, will be confirmed by the outcome of the negotiations.