The American Fund Oak tree announced on Wednesday that it had taken control of the Inter Milanwhich has just been proclaimed the champion of Italian football, because the owner is Chinese Sunday not paying the debt of 395 million euros on time.
On Saturday, the president of Inter, Steve Zhang, criticized the American fund for “compromising the financial stability” of the club and assured that Suning had “made every effort to find a peaceful solution” with Oaktree. That amount is from a loan (and interest) taken out three years ago, shortly after Inter won their previous league title.
“As of May 22, 2024, funds managed by Oaktree Capital Management LP own Inter. This is because the three-year loan issued by Oaktree to Inter’s holding company, which expired on May 22, was not paid off. May 2024 with a global balance of approximately €395 million,” Oaktree said in a statement sent to The Associated Press and other media outlets.
The news comes just three days after Inter won their 20th league title in a festive atmosphere at the San Siro. Inter became the seventh American-owned Serie A club. The others are AC Milan, Atalanta, Fiorentina, Roma, Genoa and newly promoted Parma.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
