In a twist worthy of Inter Milan’s “Crazy Inter” reputation, on the day of the celebration for their second league title, the ownership shift from Suning Group to Oaktree Fund is in motion. This switch is due to Suning failing to repay a $275 million loan, now amounting to $375 million with interest. The deadline is looming, and prospects for Suning’s Zhang to find a solution seem slim. Suning’s era, marked by sporting success but financial challenges, may be coming to an end.
Arriving in Milan eight years ago with ambitions of European football dominance, Suning’s ownership saw highs like the hiring of top players and winning titles. However, influenced by China’s political-economic issues and the pandemic, financial struggles surfaced. Despite this, Inter maintained a strong squad with managerial brilliance, capturing domestic cups and a second star. Suning’s exit looms amidst the club’s triumph, leaving a complex legacy of wins and financial strain.
The looming handover to Oaktree, acquiring Inter for a bargain at $275 million, comes with a $400 million debt burden. While potential plans mirror Elliott’s management of AC Milan, ensuring competitiveness is vital. Oaktree’s challenge will be maintaining Inter’s elite status while leveraging player sales. Only time will reveal if Oaktree’s reign will uphold Inter’s legacy or take the club in a new direction, ushering in a transition for a Milanese institution and Italian football icon.
