Oaktree Could Extend Suning’s Loan Repayment Deadline To Avoid Owning Inter, Italian Media Report | OneFootball
Oaktree Could Extend Suning’s Loan Repayment Deadline To Avoid Owning Inter, Italian Media Report
Oaktree Capital Group could extend the repayments deadline on the loan that Suning took out so that they don’t have to take full control of Inter, according to a report in the Italian print media today.
As has been reported by Tuttosport today, Oaktree are not willing to take control of Inter and tun the club if Suning is unable to pay off its debts. That is how Elliott Management ended up owning AC Milan, but Oaktree do not want to do the same.
Oaktree loaned Suning $275 million back in May 2021 and that is due to be paid back by May 2024. It is becoming increasingly likely though that Suning will not be able to pay that back by then.
In that eventuality, Oaktree would assume control of the club but to avoid having to do that, they may negotiate an extension thanks to the 12% interest rate that is in place. Inter’s balance sheets suggest this will be needed.
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