Oaktree Takes Over Inter Milan After Missed Payment

KUALA LUMPUR, May 23 (Bernama) -- Oaktree Capital Management L.P. (Oaktree) has taken over FC Internazionale Milano (Inter Milan) after the Serie A champions' Chinese owner defaulted on a loan with a balance of 395 million euros. (1 euro = RM5.09)

In a statement, Oaktree said it assumed ownership of Inter following the non-repayment of a three-year loan to Inter Milan's holding companies that matured on May 21.

“As new owners, we recognise our responsibility to Inter Milan’s community, history and legacy. Our initial focus is operational and financial stability.

“We have great respect for Inter Milan's management team and look forward to working closely with them to provide strong leadership for the club,” said Oaktree Managing Director and Co-Head of Europe for Global Opportunities strategy Alejandro Cano.

In May 2021, Oaktree provided the club’s holding companies with rescue capital to stabilise its financial situation and enable it to continue operating, including to pay its players and employees.

In the three years since Oaktree’s rescue financing, Inter has lifted its eighth and ninth Coppa Italia, secured its sixth, seventh, and eighth Supercoppa, earned its 20th Scudetto title and historic second star, and reached the UEFA Champions League final for the first time since 2010.

Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the club and its stakeholders as well as values the legacy, the passion of the players, the loyalty of the fans, and the its significant role in Milan, Italy and the global sporting community.

The firm is committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the club is positioned for success on and off the pitch; focusing on robust management, operations and governance with a vision for sustainable growth and success.

A leader among global investment managers specialising in alternative investments, Oaktree emphasises a value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities.

-- BERNAMA