(foto: Getty Images)
Inter Milan must repay a €395 million loan by Tuesday, with owner Suning warning of severe financial instability if the debt is not settled.
The owners of Inter Milan must repay a loan to investment fund Oaktree Capital by Tuesday. Chinese company Suning, the owner of Inter, may be counting its final days with the club, as it has long struggled to finance and maintain operations. In May 2021, Suning took out a €350 million loan to ensure the club's normal functioning, but has been unable to repay the loan so far, making this a potentially pivotal week for the reigning Italian champions.
Suning was expected to repay €395 million to Oaktree by May 20. They planned to do this by securing a new loan from the American fund Pimco. However, the agreement has not yet been reached. Inter has been given an extra day due to a bank holiday in Luxembourg, meaning the loan must be repaid by Tuesday at the latest.
If Suning fails to repay the debt, the club will come under the ownership of Oaktree Capital. Inter president Steven Zhang issued a public letter today, revealing that a satisfactory agreement with Oaktree has not been found, thereby seriously threatening the club’s financial stability.
"As the loan repayment date approaches, we and our partner have done everything to find an amicable solution, including several options for Oaktree to achieve full and immediate financial recovery. Unfortunately, our efforts have been hampered by legal threats and a lack of cooperation from Oaktree. This behavior is not only deeply frustrating but also poses a risk to the financial stability of the club."
"As president, I want to assure Inter’s hundreds of millions of fans worldwide that we will do everything possible to protect our colors, core values, and stability. We are committed to seeking a peaceful resolution with Oaktree and continuing our successful story," Zhang wrote.