Oaktree Still Likely To Take Over Inter Milan From Suning Despite Positive Financial Statement

Oaktree Capital are still likely to take control of Inter Milan from Suning despite positive financial statements yesterday.

This according to today’s print edition of Rome-based newspaper Corriere dello Sport, via FCInterNews.

Yesterday, Inter’s board of directors held a meeting to approve the club’s financial statements for the first half of the financial year ending in June of this year.

That period covers between the first of June and the 31st of December of 2023.

And the financial statement actually show Inter recording a consolidated profit of €22.3 million during that six-month period.

That is compared to €63.5 million in losses during the same period of the prior financial year.

That is a significant improvement, which indicates that the financial situation has become much more positive.

However, the Corriere reports, it does not necessarily spell positive news for Inter owners Suning.

Oaktree Likely To Take Inter Over From Suning Despite Recent Financial Reports

Yesterday’s financial statements come amid a backdrop of uncertainty about the future of Inter’s ownership.

Suning currently own the club.

But the Chinese company took on a significant loan from US-based fund Oaktree Capital in 2021. And the deadline for repayment of that loan is May 20th of this year.

If Suning were to default on the loan, then their shares in Inter would pass into the hands of Oaktree.

And given that that deadline is now less than two months away, the situation has become urgent.

Suning have been aiming to negotiate an extension of the deadline with Oaktree.

However, there has not yet been an agreement on such an extension. The Corriere have reported recently that Oaktree are not convinced by the Nerazzurri onwers’ offers for an extension deal.

And according to the Rome-based newspaper, that continues to be the case.