Oaktree Capital have bought into Serie A champions Inter Milan.
Bloomberg reports Suning have completed a financing operation for €275m with Oaktree Capital for Inter, with three years to pay back the €242m loan as Oaktree become minority shareholders.
Oaktree has purchased 31 per cent of the club shares for €33m, but that is only part of the deal.
It's a loan for €242m with Suning's 68.55 per cent shares in the club as collateral should they not keep up the repayments. If Suning do not keep up loan repayments, then Oaktree Capital will be able to take control of Inter.
Inter released a statement on Thursday evening:
“Following the process of due diligence with a common long-term vision for the project, today a financing operation based on shares with funds run by Oaktree Capital Management L.P. was finalised.
“With this financing, the shareholders will continue to sustain FC Internazionale Milano, with the objective of overcoming the difficulties and opportunities lost during the COVID period."
