Oaktree Capital Had Expected Suning To Sell Inter Milan In Last Three Years | OneFootball

Oaktree Capital had expected Suning to sell Inter Milan at some point in the last three years after their sizable loan to the Nerazzurri owners.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. The newspaper give an account of why the US fund could be scuppering refinancing talks between Suning and PIMCO.

Recent days have seen a significant new development regarding the future of Inter’s ownership.

For the past few weeks, current Nerazzurri owners Suning have been in talks with PIMCO.

Suning have been aiming to secure a loan that would allow them to refinance their debt to Oaktree.

However, as of yet, those talks have not yet resulted in an agreement. And it is looking less and less likely that they will in the end.

Therefore, control of Inter could pass into the hands of Oaktree.

That is, theoretically, what would happen in the event that Suning default on the loan when the deadline comes. And that deadline is on Monday (postponed to Tuesday due to a public holiday in Luxembourg).

Oaktree Had Expected Suning To Sell Inter In Last Three Years

Therefore, the Gazzetta report, there are essentially three scenarios on the table.

One would be that Suning do manage to secure a loan from PIMCO.

In that case, the current owners would repay their debt to Oaktree and remain at the helm of Inter.

Given that the deadline is just days away, that option would require an extension of the deadline by Oaktree, to buy Suning time to wrap up the talks with PIMCO.

Alternatively, the Gazzetta report, Suning and Oaktree could agree an extension of around six months.

This would be purely to grant the current owners a window of time in which to sell Inter.

Lastly, the Gazzetta report, there would be the possibility of Suning defaulting and then Oaktree taking over.

The US-based fund would then look to sell Inter.

According to the Gazzetta, Oaktree had expected when they made the loan to Suning in 2021 that at some stage in the last three years there would be a sale of Inter.

Oaktree would receive a 20% cut of any sale of the Nerazzurri.

Therefore, the US fund are not thrilled with the proposition of Suning finding a solution to remain in control of Inter for years to come without a sale taking place.