FLASH
Shkruar nga Pamfleti
The situation at Inter does not seem to be calm, despite the fact that they were declared champions of Serie A a few days ago. The problem is finances. This was announced by the president of Inter, Steven Zhang, who wrote a letter to the fans confirming the economic difficulties to refinance the loan he received in 2021.
" In the months leading up to the due date of Oaktree's loan, we made every effort to find an amicable solution with our partner, making our agreed offer to Oaktree for a refinancing. directly to their credit. But our efforts so far have found legal threats and lack of involvement in this matter on the part of "Oaktree". All of this is very stressful and frustrating and this behavior is creating a dangerous situation for the club and that could really put the stability at risk for the future.
On behalf of Inter and in the capacity of the president, I want to assure all Inter fans around the world that we will do everything to protect our colors and our values which are based on sustainability. We will commit to finding a peaceful solution with "Oaktree" to continue our journey of success for our beloved Inter", it is written, among other things, in the official announcement published by Inter" , the letter of the president of Inter said.
Suning has made every effort to keep Inter before the end of the loan repayment deadline, but it seems to have failed.
Bloomberg, via FCInterNews, reports that the Nerazzurri owners tried to repay a loan from a new fund in the form of PIMCO, but that the time frame turned out to be too tight.
Suning has not yet given up control of Inter. The loan deal Oaktree gave Nerazzurri owners in the spring of 2021 expires today.
But there is an extra day for Suning. This is because today is a public holiday in Luxemburg, where the holding company through which they own their shares in Inter is located.
However, if Suning does not deposit the full amount owed to Oaktree by tomorrow, then the US-based fund will be able to begin to repossess their controlling stake in Inter.
Why did Suning's efforts to keep Inter fail?
Suning has been in dialogue with Oaktree for months. This was done through intermediaries near the Chinese company, Goldman Sachs and Raine Group. The US-based fund was willing to offer Suning a short-term extension.
This would be in order to give the owners of Inter a little more time to complete the sale of the club. However, Suning preferred to seek another fund to agree on a long-term loan to refinance their debt to Oaktree.
PIMCO emerged as a candidate in this respect. There were negotiations between Suning and that American fund for a loan of 435 million euros. However, limited time made those negotiations difficult.
And once it became clear that talks weren't making enough progress last week, the whole idea was scrapped because a deal couldn't be reached ahead of schedule.
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