Oaktree Capital has moved to seize control of Inter Milan after the football club’s Chinese owners failed to repay a €400mn loan in time.
Los Angeles-based Oaktree, one of the world’s biggest distressed debt investors, said on Wednesday that it has “assumed ownership” of the newly crowned champions of Italy following Chinese retailer Suning’s failure to repay a three-year loan that expired on May 21.
The move marks the culmination of a fierce public battle between Oaktree and Suning over the newly crowned Italian champions and thrusts the $192bn investing powerhouse into owning one of the world’s most famous clubs — the first time it has ever owned such an asset.
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