Inter changed hands! Official: Oak Capital took over Inter Milan, and the 8-year Suning era of Inter Milan ended

On May 22, it was officially reported that Oak Capital took over Inter Milan.

The following is the official announcement

Since May 22, 2024, the fund managed by Oaktree Capital Management, LP ("Oaktree") has become the owner of Inter Milan Football Club ("Inter Milan" or "Club"). This is because Inter Milan Holdings failed to repay the three-year loan provided by Oaktree Capital, which expires on May 21, 2024, with a total balance of about 395 million euros.

This is the first time in the history of Inter Milan that it is controlled by an American company. According to the previous report of Milan Sports News, Oak Capital will wait for someone to negotiate the acquisition after taking over Inter Milan. Zhang Kangyang failed to find a solution in the tug of war, which does not rule out a legal war between the two sides.

In May 2021, Internazionale, which is owned by Suning Holdings, obtained a three-year loan worth 275 million euros with an annual interest rate of 12% from Oak Capital, an American fund.

This loan is guaranteed by the shares of Inter Milan. If Suning fails to repay about 375 million Euros with interest and principal before May 21, Oaktree Capital has the right to enforce the pledge of the shares of Inter Milan and become the owner of the club.

In terms of pledged shares, this includes not only 68.55% of Suning's shares, but also 31.05% of LionRock Fund's shares.

On June 6, 2016, Suning Group and Inter Milan Club jointly held a press conference in Nanjing, and Inter Milan entered the Suning era.

In nearly eight years, Inter won two Serie A titles, two Italian Cup titles and three Italian Super Cup titles, and reached the Europa League finals and the Champions League finals in 2020 and 2023 respectively.