Soccer: US fund Oaktree takes over ownership of Inter

(ANSA) - ROME, MAY 22 - United States fund Oaktree announced on Wednesday that it is the new owner of Serie A champions Inter after the previous owners, China's Suning, failed to pay off a 395-million-euro debt by Tuesday's deadline for repayment.
    Suning had borrowed 275 million euros three years ago from Oaktree at an interest rate of over 12% after the club's finances were badly hit by the impact of the Covid-19 pandemic.
    "As of 22 May 2024, funds managed by Oaktree Capital Management, LP are owners of FC Internazionale Milano," Oaktree said in a statement.
    "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." (ANSA).