Inter Milan President’s Harsh Statement Prefigures Legal Battle With Oaktree Capital On The Horizon | OneFootball

Yesterday’s statement by Inter Milan President Steven Zhang looks to be a preview of a legal battle between Suning and Oaktree Capital.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews.

Yesterday, Inter President Steven Zhang broke his silence regarding the situation at the top of Inter’s ownership.

Over the past few weeks, Inter owners have reportedly been looking to secure a new loan from PIMCO. This would be for the purpose of refinancing the Nerazzurri owners’ debt to Oaktree Capital.

If Suning do not pay what they owe to Oaktree in full by Tuesday, then their shares in Inter would pass into the fund’s hands.

There has been no loan to refinance the debt to Oaktree however. Widespread reports indicate that the talks with PIMCO have broken down.

What is not clear is exactly why that is the case. There have been rumours of Oaktree obstructing the process of Suning securing a new loan – although all without confirmation.

Steven Zhang Statement Prefigures Legal Battle With Oaktree Capital

For several days, there was silence from Suning and Inter President Zhang.

Even amid the rumours of talks with PIMCO breaking down, there was no comment from the Nerazzurri ownership.

But yesterday Zhang did issue a statement. And he took direct aim at Oaktree over the situation.

The Inter President’s statement does not directly mention PIMCO, or go into too many specifics.

However, the statement contains an accusation of a “lack of meaningful engagement” on the part of Oaktree in Suning’s efforts to secure their future at the club.

There is also an insinuation of “legal threats” from Oaktree by the Inter President.

Zhang’s statement does not go into too much detail.

However, the mood of the statement is hard to mistake in the Nerazzurri President’s harsh tone.

What looks clear now is that Oaktree Capital will take over Inter from Suning. But what looks equally clear is that the story is not over, as the latter are prepared to take some form of legal recourse.