American fund Oaktree have now completed a takeover of Serie A giants Inter, who won the Scudetto just some days ago.

Suning and Steven Zhang had taken a major loan from Oaktree back in 2021, when Inter were struggling financially. But it was taken with the promise that the amount would be repaid with interest by the 20th of May, 2024. But Suning have failed to pay the amount, meaning that they have now lost ownership of the Nerazzurri.

Oaktree have now confirmed their takeover of the new Serie A champions, with the fund’s Managing Director and Co-Head in Europe for Oaktree’s Global Opportunities strategy – Alejandro Cano, saying: “As new ownership, we know our great responsibility towards the community and the Inter’s historical legacy. We are committed to the long-term success of the Nerazzurri and believe that our ambitions for the Club join those of its passionate fans in Italy and around the world.

“Our initial focus is the operational and financial stability of the Club. We have great respect for the Inter management team and look forward to working closely with them to provide strong leadership to the Club. Winning the second star was a crucial moment for the Club and our objective is to continue the success achieved on the pitch with a path of long-term growth and success.”

Inter had been in financial trouble even after their previous Scudetto win 2021 and that is when the Oaktree loan had come about. The fact that the Italian champions have had to face financial troubles once again after a Scudetto win shows how the structures in the Italian game are flawed and that the sport deserves better.

Kaustubh Pandey I GIFN