THE owner of Italian soccer champions Inter Milan warned over the club’s stability yesterday after failing to reach an agreement with debt holder Oaktree, as a deadline rapidly approaches to repay a multi-million euro loan.
Chinese conglomerate Suning, which holds a 68.5 per cent stake in Inter Milan, has to hand back roughly 375 million euros ($408m) to Oaktree, a US-based investment fund, by the beginning of next week.
“We have been making every attempt with our partner to find an amicable resolution, including multiple paths for Oaktree to achieve a full and immediate financial return,” said Inter Milan chairman Steven Zhang in a letter to supporters published on the club’s website.
“Unfortunately, our efforts to date have been exasperated by legal threats, and a lack of meaningful engagement from Oaktree. Not only has this been deeply frustrating and disappointing, such behaviour now poses potential risks to the club that could seriously jeopardise its stability,” he said. He gave no further detail of the content of the discussions. Oaktree declined to comment.
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