Business of Sports

Inter Milan Seized by Oaktree After Chinese Owner Defaults on Debt

Suning Holding failed to repay €395 million loan to Oaktree
Collateral backing the debt was majority stake in the club

Lautaro Martinez of FC Internazionale celebrates winning the Serie A TIM title in April.Photographer: Francesco Scaccianoce/Getty Images

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By Giulia Morpurgo and Irene Garcia Perez

May 22, 2024 at 9:22 AM UTC

Updated on

May 22, 2024 at 12:32 PM UTC

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Oaktree Capital Management took ownership of Italy’s Inter Milan, one of the most storied football clubs in Europe, after its Chinese owner defaulted on a loan.

The US fund has taken control of the club as of Wednesday after conglomerate Suning Holding Group Co. failed to repay €395 million ($428 million), Oaktree said in an emailed statement. The collateral backing the debt was a majority stake in the football club.