Pif-Inter? In the middle is Oaktree: “Those who closely follow the club say that …”

Suning is no longer the only custodian of Inter’s future stock: it depends on the funding of Oaktree Capital

Since yesterday there has been no talk of anything other than Libero’s article about an advanced negotiation between the Saudi fund Pif and Suning for the acquisition of the shares of Inter. Tuttosport, in its current edition, gives its version, adding a very important detail: “On this point the rumors are discordant. There are those who confirm the existence of a negotiation in recent weeks. meetings between the Zhang family and the Saudis. And those who believe that Pif could not stop at Newcastle and therefore return to the position in Serie A. It should also be noted that, since last spring, the Nanjing group is no longer the only custodian of Inter’s future stock. The need to bail out Oaktree Capital’s 275 million maxi-loan took away Suning’s exclusive power to decide.

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It is not clear who has the last word in the event of a sale because very few details are leaked on the details of the agreement on the financing with the Californian fund. Certainly Chinese ownership cannot have a completely autonomous margin of maneuver because it depends on the funding of Oaktree, which has already injected 75 million into Inter. Those who closely follow the Nerazzurri’s corporate events say that at this moment the role of the notary is influential Carlo Marchetti, joined the Nerazzurri board following the agreement with Oaktree. Some more information could emerge from the shareholders’ meeting of 28 October, called to approve the 2020-21 financial statements closed with the enormous deficit of 246 million.

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Precisely this “red” shows that it is difficult for Inter to continue with the current set-up beyond this season. Suning, in fact, can no longer make up for Inter’s losses. The 2021-22 budget will be better, but it will produce other deficits, so there are not many alternatives left to an even more decisive handover or stepping up to the helm of Oaktree two years ahead of 2024. In the meantime, some goals need to be hit. starting with the refinancing of the 300 million bond maturing at the end of 2022, to be completed well in advance so as not to alarm the financial markets. The next few months will also be those of the definitive step forward for the green light of the Municipality for the construction project of the new stadium. The ace to play on the table of a higher Inter rating. The denials on Pif’s interest are not enough to freeze a situation that must necessarily produce a change at the end of this season “, concludes the newspaper.

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