Inter Milan set for £237MILLION cash injection as US investment firm buys 31.5% stake of the club just weeks after vice-president Javier Zanetti revealed they’ve got ‘serious financial problems’ following collapse of European Super League
- A US investment firm has bought a 31.5% stake in Inter Milan worth £237m
- Suning Holdings Group will retain control of the club with its 68.5% holding
- New investment deal comes weeks after Inter’s financial issues were revealed
- Inter joined Super League to solve economic problems but those plans collapsed
Italian champions Inter Milan are close to securing 275 million euros (£237m) in financing under a deal that will hand a minority stake to U.S. investment firm Oaktree Capital Group, two sources close to the matter said on Wednesday.
Chinese-owned Inter, this month crowned Serie A champions for the first time in 11 years, are suffering like rivals due to the hit from the COVID-19 pandemic and had been discussing an agreement to shore up the club’s finances.
The two sources said Oaktree was set to buy a 31.5% stake currently held by LionRock Capital, a Hong Kong-based investment firm.
Serie A champions Inter Milan are close to sealing a new investment deal with a US firm
Oaktree Capital Group are on the verge of buying a 31.5% stake in the club worth £237m
Chinese retail giant Suning would retain control with its 68.5% holding.
The new investment deal comes just weeks after the club’s vice-president Javier Zanetti revealed the Serie A champions have ‘serious financial problems’.
Inter recently joined up to the botched European Super League in a bid to solve the club’s economic problems, and were reportedly guaranteed around £100m on entry.
They have however since backed out of the Super League following mass opposition and protests from football fans around Europe while Zanetti has admitted the club came close to being sold this season.
The deal comes weeks after Javier Zanetti revealed Inter had serious financial problems
Inter reclaimed the Serie A crown earlier this month to end Juventus’ dominance in Italy
‘It’s true that the club could’ve been sold mid-season,’ the former Inter captain told La Nacion, as quoted by AS.
‘We were going through serious financial problems, even if we weren’t the only ones in such a difficult moment.
‘I saw that as a club we can still improve. The coach has done something extraordinary over two years, now it’s up to us to improve the internal mechanism and aspire to something more.
‘The financial problems remain and it could take a couple of years to rediscover that balance. We need people back in the stadium to make the sponsors happy. Basically, a return to normality.
‘We mustn’t hide, it is a delicate moment, but we want this so we can take a bigger step forward. What we need is an over-reaching strategy that guarantees sustainability in the long-term.’
Despite their brilliant season, financial problems are lingering in the background at Inter
Inter Milan president Steven Zhang (pictured), who joined up to botched European Super League in bid to solve club’s economic issues, remains in control despite new investment deal
Inter were hit extremely hard during the Covid-19 pandemic, and the owners – Suning – were forced to halt operations at its Chinese football clubs due to financial jeopardy.
Antonio Conte’s position as manager remains uncertain due to the financial situation caused by the ongoing pandemic while reports this month claimed owners Suning Holdings Group were considering selling the club.
They will however remain the majority stakeholders in the club, with U.S. investment firm Oaktree Capital Group owning 31.5%.
A third source, meanwhile, has said thatTom Pitts, LionRock’s head of Europe, would step down from Inter Milan’s board of directors.
Oaktree, Lionrock and Suning all declined to comment.
Share this article
Source: Read Full Article