Profile: US debt fund at heart of high stakes game on Inter’s future

26 May 2021

Photo: Alamy The supporters from Inter Milan come in large numbers - and they are very passionate. On this picture they cheer on their team back in 2010 playing away against Real Madrid.

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.

James Corbett

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.

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