Inter’s Chinese owners lose control of club to investments firm Oaktree after failure to repay US$429 million loan
- Suning Holdings Group acquired Inter in 2016 with Steven Zhang installed as chairman in 2018
- Club are newly crowned Serie A champions, but Suning had taken out loan in 2021 to ease financial pressures, while also selling key players
Suning Holdings Group has relinquished control of Serie A champions Inter Milan to an investments firm after failing to repay a three-year loan worth €395 million (US$429 million), taken out in 2021.
Oaktree Capital Management, an alternative investments firm, confirmed that the club had transferred under its control.
The move, mooted for weeks, came after Steven Zhang, founder and chairman of Suning, missed a deadline for repayment.
Zhang had been chairman of the club since 2018 and this season oversaw their march to a 20th league title. It made Inter only the second Italian side after Juventus to win a second star, awarded for every 10 titles won.
“As new owners, we recognise our responsibility to Inter Milan’s community, history and legacy,” said a statement from Alejandro Cano, managing director of Europe for Oaktree’s global opportunities strategy.
“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.
