business

Serie A champion Inter facing a nervous wait as deadline passes for loan repayment to Oaktree

Font size+Author:Stellar Stream news portalSource:sport2024-05-22 10:55:42I want to comment(0)

MILAN (AP) — Just two days after celebrating its Serie A title win, Inter Milan and its fans face a

MILAN (AP) — Just two days after celebrating its Serie A title win, Inter Milan and its fans face a nervous wait to see what will happen with the club.

Club owner Suning and Inter president Steven Zhang could lose control of the Nerazzurri if they fail to repay a debt of nearly 400 million euros ($434 million) to American investment fund Oaktree.

That sum stems from a loan — and interest — taken out three years ago, shortly after Inter won its last league title.

The deadline for repayment was at 5 p.m. local time (1500 GMT) and there was no word of the outcome several hours after that had passed.

Zhang has tried to extend the deadline for the loan repayment and come up with alternative solutions with Oaktree but without success.

“I can only guarantee that the club is very solid,” Inter CEO Giuseppe Marotta said on Sunday, amid a party atmosphere at San Siro as Inter was presented with its 20th league title.

Related articles
  • Slovak Parliament votes to condemn political violence after assassination attempt on prime minister

    Slovak Parliament votes to condemn political violence after assassination attempt on prime minister

    2024-05-22 09:16

  • Santana homers, Ober fans 10 as red

    Santana homers, Ober fans 10 as red

    2024-05-22 08:45

  • Japan's SoftBank Group trims investment losses but remains in red for fiscal year

    Japan's SoftBank Group trims investment losses but remains in red for fiscal year

    2024-05-22 08:14

  • Bruins captain Marchand scratched from Game 4 of Eastern Conference semifinals against Panthers

    Bruins captain Marchand scratched from Game 4 of Eastern Conference semifinals against Panthers

    2024-05-22 08:14

Netizen comments