In under two months, Inter faces a pivotal moment, grappling with the imminent deadline for repaying Oaktree’s loan—a crucial juncture in recent history.

By May 20th, 2024, Inter’s president Steven Zhang must settle a €375m obligation to Oaktree, comprising the initial €275m loan plus approximately €100m in accrued interest. Failure to meet this deadline necessitates either renegotiating terms or risking Oaktree assuming control of the club.

La Repubblica reports Oaktree’s recent rejection of Zhang’s proposed extension, citing reluctance to prolong the deadline or escalate interest charges due to the loan’s high-risk assessment by London’s insolvency office.

In the absence of an agreement between Zhang and Oaktree, Inter’s owners face two stark alternatives.

The first option entails securing a new €400m loan from alternative sources to clear the debt by May 20th. Discussions involving advisors Goldman Sachs and Raine Group have commenced with potential lenders, necessitating swift progress given the intricate nature of such transactions.

Alternatively, Oaktree could assume control of the club in place of Zhang and Suning, likely through debt conversion into shares or enforcement of security interests. The fund aims to expedite this transition by summer and initiate the search for new buyers promptly.

Notably, CEO Beppe Marotta’s tenure with Inter remains unaffected, with his contract extending until June 2027. Widely esteemed for his competence, Marotta is anticipated to maintain his role amid the ongoing developments.