After months of rumors and loud headlines in the Italian media threatening imminent disaster, concrete news has finally materialized regarding Inter’s dire financial situation. In fact, Suning may have found the fix it has been searching for since the pandemic effects hit. The deal between Suning and Oaktree for a multi-million loan was made official Thursday evening with a statement from Inter to the news agency ANSA.
“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.”
Oaktree will provide a €275 million loan to Inter and replace LionRock as minority owners (reports have been conflicted over whether Oaktree directly replaces LionRock or Suning buys it out with money from the loan). Suning’s shares will be the collateral for the loan; should the Chinese company not repay the loan in three years, Oaktree will become full owners. The capital injection will go to immediate use paying wages and transfer payments so Inter can enter next season with a lighter financial load. Most importantly, the Nerazzurri should be able to keep hold of the key figures on the pitch as it hunts for a second-straight Scudetto next season. Credit to Suning for securing the deal and finding Inter vital stability.
What are your thoughts? Is Suning planning on sticking around for the long-term? Let us know in the comments below.