Oaktree says it's now the owner of Inter Milan after soccer club failed to repay loan

By Steve Goldstein

Oaktree Capital on Wednesday said it's taken ownership of storied soccer club Inter Milan after the team failed to repay a loan.

Oaktree said Inter Milan failed to repay a EUR395 million ($428 million), three-year loan that matured on Tuesday.

"We are committed to the long-term success of the Nerazzurri and believe our ambitions for the Club are united with those of its passionate fans in Italy and around the world. Our initial focus is operational and financial stability," said Alejandro Cano, co-head of Europe for Oaktree's global opportunities strategy, in a statement.

Oaktree, the fund manager with $192 billion in assets co-founded by investing legend Howard Marks, is seizing the club from Chinese retailer Suning (CN:002024).

The question is whether Oaktree will hold the club or sell it.

Finnish businessman Thomas Zilliacus told an Italian broadcaster he was interested in buying the club.

-Steve Goldstein

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05-22-24 0608ET

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