Inter passes to Oaktree, American era begins

"Since 22 May 2024, funds managed by Oaktree Capital Management, LP ("Oaktree") have owned FC Internazionale Milano ("Inter" or the "Club"). This follows the non-repayment of the three-year loan granted by Oaktree to Inter's holding companies, which expired on 21 May 2024 with a total balance of approximately €395 million." So begins the statement from the US investment fund announcing the end of Inter's Chinese era and the beginning of the American one, following the failure to meet contractual obligations.

The statement explains that 'in May 2021, with Inter Milan on the verge of posting record losses, Oaktree provided Inter's holding company with the necessary resources "to stabilise its financial situation and thus continue to operate, including guaranteeing the payment of players and employees. In the three years since Oaktree's emergency intervention, Inter won its eighth and ninth Coppa Italia, secured its sixth, seventh and eighth Super Cups, and earned its 20th Scudetto and historic second star, as well as reaching the UEFA Champions League final for the first time since 2010'.

Oaktree also announces that his goal is 'the best outcome for Inter's long-term prosperity, with an initial focus on the operational and financial stability of the club and its stakeholders. Oaktree has great respect for Inter's history, the passion of the players, and the loyalty of the Interisti; it also has great regard for the Club's significant role in the city of Milan, Italy, and the global sporting community. Oaktree intends to work closely with Inter's current management team, partners, the league and the sport's governing bodies to ensure that the Club is positioned for success on and off the pitch, focusing on sound management and governance with a vision of sustainable growth and success.

Alejandro Cano, Managing Director and Co-Head Europe for Oaktree's Global Opportunities strategy, explains: 'As new owners, we know our great responsibility towards the community and Inter's historical legacy. We are committed to the long-term success of the Nerazzurri and believe that our ambitions for the club join those of its passionate fans in Italy and around the world. Our initial goal is the operational and financial stability of the Club. We have great respect for the Inter management team and look forward to working closely with them to provide strong leadership for the Club. Winning the second star was a pivotal moment for the Club and our goal is to continue the success achieved on the field with a long-term path of growth and success.

Oaktree and the Inter management team will be in contact with the club's key stakeholders in the coming weeks in order to ensure an orderly and smooth transition.Oaktree is one of the leading global asset managers specialising in alternative investments, with assets under management of USD 192 billion (31 March 2024). Oaktree follows a value-oriented and risk-controlled approach, investing in credit, private equity, real estate and equities. It has over 1,200 employees and offices in 23 cities worldwide.