Profile: US debt fund at heart of high stakes game on Inter’s future
26 May 2021
Oaktree Capital Management have loaned €275 million to secure Inter’s future, but who gets the better deal?
Inter’s owners Suning run risk of ceding control of the club in mirror of AC Milan’s 2018 default, but could also come out as 100 per cent shareholders.
Oaktree’s principal, the legendary investor, Howard Marks, is renowned for his cerebral investor memos and books that invoke Buddha.
It was the best of times, it was the worst of times: 2020/21 was, for Inter Milan, truly a tale of two clubs. On the field they were brilliant, all conquering in Serie A, wrapping up the Scudetto with time to spare. Off it, they were a basket case, haemorrhaging money, credit lines cut off from their backers, unable even to pay their staff.
Now after the feast and the famine comes a new normal. Earlier this week a €275 million loan was secured by Inter’s majority shareholders, Suning, from Oaktree Capital Management to stabilise Inter’s chaotic finances.
Do you want to read this article?
Get instant access by signing up for a 7-day free trial
No credit card, no commitments and it will expire automatically.
You will receive a link that activates your trial in an email.