February 20, (THEWILL) – Inter Milan is in negotiations to extend a £240 million loan provided by investment firm, Oaktree Capital Management, which is set to expire in May 2024. The American distressed debt investor originally granted the financing package in 2021 to support Inter’s Chinese owners, Suning, through financial difficulties worsened by the COVID-19 crisis.
The loan was secured against Suning’s 68.5% stake in the club. Sources indicate Oaktree could potentially take control of Inter if repayments are missed. The terms of any new deal are expected to differ from the existing arrangement, with modifications potentially including a shorter maturity.
Oaktree is working with Suning’s advisors Goldman Sachs on the refinancing. The extension comes as Inter continues to grapple with substantial debts totalling £700 million amid ongoing annual losses, despite qualification for the lucrative UEFA Champions League last season helping to boost revenue.
All parties involved have declined to publicly comment on the confidential discussions. Inter attracted interest from potential investors last year, but Suning denied any sale was in progress and no deal materialised.
The news will prompt further uncertainty around the future ownership structure of the current Serie A leaders. Inter are seeking to strengthen their financial position after recording an £75 million loss in 2022/2023, reduced from £122 million the prior year, while revenue grew to £360 million.
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Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
