Today at 5 pm is the deadline for Inter Milan to be taken over by Oaktree. This marks the starting point for the execution of the pledge due to Steven Zhang’s inability to repay the €380 million loan received in 2021. Time is running out as each passing minute could bring an official announcement from the Californian fund revealing the inevitable scenario. Despite last-minute attempts by Suning to extend the loan, all efforts have been in vain. It seems Oaktree is firm on waiting for the deadline to take over the club.
The current Inter management is also bracing for a change in ownership. The process, expected to happen in Luxembourg, would see the current board resign and a new one formed within 20 days to a month. Zhang may still fight back legally, as hinted by his carefully worded statement last Saturday. Details regarding the handover remain uncertain, with Zhang unlikely to retain a minority share or receive any shares from the sale. May 21 is set to be a pivotal date in Inter’s history, with Oaktree soon becoming the new owners and potentially ensuring the club’s financial stability and competitiveness.
As Zhang faces the inevitable transfer of power, speculation arises on the club’s future under Oaktree’s ownership. The fund’s interest lies in maintaining Inter’s competitiveness and financial growth, possibly attracting a buyer close to Zhang’s previous valuation of €1.2 billion. While a new purchaser is not on the horizon, Oaktree’s takeover signifies the end of Suning’s reign over the club after 2906 days. The coming days will reveal the course that Inter Milan takes under its new owners, signaling a significant shift in the club’s ownership and future direction.
