Inter under new management as Suning defaults

MILAN — Inter Milan entered an uncertain new era on Wednesday after US asset management firm Oaktree Capital took control of the Serie A champion after outgoing owner Suning defaulted on a debt worth hundreds of millions of euros.

Oaktree Capital announced that it had "assumed control" of Inter after the non-repayment of a "three-year loan to Inter Milan's holding companies, which matured on 21 May 2024 with a total balance due of approximately 395 million euros ($428 million)".

Chinese conglomerate Suning and president Steven Zhang have relinquished control of Inter to Oaktree Capital three days after the team was officially crowned Italian champion for the 20th time.