US investment firm seizes control of Inter after missed payment from Chinese owners
by Reuters from US news | The Guardian on (#6MZVR)
- Suning's loan was guaranteed by stake in Italian club
- Inter become seventh Serie A club with US owners
The United States-based investment fund Oaktree Capital Management said on Wednesday it has become the new owner of Serie A champions Inter after a missed $428m (336m) payment from the club's Chinese holding company, Suning.
Granted in 2021 to the Luxembourg-based vehicle through which the Chinese conglomerate Suning controlled Inter, the loan was guaranteed by the firm's stake in the club. Under the scheme, Oaktree had the right to take control of the club in the event of a default.
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