American investment fund Oaktree Capital have confirmed that they’ve taken control of Inter, as Steven Zhang has failed to repay the outstanding €395 million loan he took out with the fund. A statement from Oaktree confirmed the takeover, reading:
Since May 22, 2024, funds managed by Oaktree Capital Management, LP (“Oaktree”) own FC Internazionale Milano (“Inter” or the “Club”). This follows the non-repayment of a three-year loan granted by Oaktree to Inter’s holding companies, which expired on May 21, 2024, with an outstanding balance of approximately 395 million euros.
In May 2021, with Inter on the verge of recording record financial losses for the 2020/2021 financial year, Oaktree provided Inter’s holding companies with the necessary resources to stabilize the Club’s financial situation and continue operations, ensuring the payment of players and employees. In the three years since Oaktree’s emergency intervention, Inter has won its eighth and ninth Coppa Italia, secured the sixth, seventh, and eighth Supercoppa, and earned the 20th Scudetto and the historic second star, as well as reaching the UEFA Champions League final for the first time since 2010.
Oaktree is dedicated to achieving the best outcome for Inter’s long-term prosperity, with an initial focus on the Club’s operational and financial stability and its stakeholders. Oaktree has immense respect for Inter’s history, the passion of its players, and the loyalty of its fans; it also holds the Club’s significant role in Milan, Italy, and the global sports community in high regard. Oaktree intends to work closely with Inter’s current management team, partners, the league, and sports governing bodies to ensure the Club is positioned for success on and off the field, focusing on solid management and governance with a vision of sustainable growth and success.
Alejandro Cano, Managing Director and Co-Head of Europe for Oaktree’s Global Opportunities strategy, commented:
“As the new owners, we recognize our great responsibility to the Inter community and its historical legacy. We are committed to the long-term success of the Nerazzurri and believe that our ambitions for the Club align with those of its passionate fans in Italy and worldwide. Our initial goal is the operational and financial stability of the Club. We have great respect for Inter’s management team and look forward to working closely with them to provide strong leadership for the Club. Securing the second star was a crucial moment for the Club, and our aim is to continue the success achieved on the field with a path of long-term growth and success.”Oaktree and Inter’s management team will be in contact with the Club’s key stakeholders in the coming weeks to ensure a smooth and seamless transition.
