May 22, 2024 - Business

U.S. investment firm Oaktree takes control of soccer club Inter Milan

Illustration of a board room table made from a soccer field.

Illustration: Gabriella Turrisi/Axios

Los Angeles-based investment firm Oaktree Capital Management says that it's become the new owner of Italian soccer club Inter Milan, after Chinese holding company Suning missed €395 million in loan repayments.

Why it matters: Inter Milan is among Italy's most popular and successful teams, and is sure to become a takeover target for those who view Oaktree as an accidental owner.

Details: Los Angeles-based Oaktree made the loans in 2021, guaranteed by Suning's control stake in the club. Repayment was due yesterday.

The bottom line: U.S. institutions or individuals now own seven of the 20 clubs competing in the Serie A league.

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