Italian Football Finance Expert Reports: ‘PIMCO Have Pulled Out, Oaktree Will Take Over Inter Milan From Suning’

Marco Bellinazzo anticipates that PIMCO have pulled out of loan talks with Suning, and Oaktree Capital will take over Inter Milan.

The football finance expert with Italian business newspaper Il Sole 24 Ore reported on the lay of the land regarding the future of Inter’s ownership on his social media account, via FCInterNews.

It has been an explosive few days as far as the question of Suning’s future at Inter is concerned.

Until Wednesday, it had appeared that the current Nerazzurri owners would be securing a massive new loan.

For a few weeks now, Suning have been in talks with US-based fund PIMCO.

This has been with the aim of bringing in a loan that would provide the Inter owners with the liquidity to pay back their debt to Oaktree Capital in full.

That would prevent Suning from defaulting on their debt to Oaktree. The deadline is now imminent – it is Monday, the twentieth of this month.

Bellinazzo: “PIMCO Have Pulled Out Of Talks With Suning, Oaktree Will Take Over Inter”

However, reports in the middle of last week indicated that the talks between Suning and PIMCO had hit a roadblock.

It is not exactly clear what the reason for this is. However, Inter President Steven Zhang claimed in a statement today that Oaktree have issued legal threats to obstruct the negotiations.

In any event, it now looks clear that Suning will not secure a loan from PIMCO before the due date for the loan from Oaktree.

And in the event that the Nerazzurri owners were to default, control of Inter would pass into the hands of Oaktree per their agreement.

Italian football finance expert Bellinazzo said that “At the moment, the scenario is like this: PIMCO have pulled out.”

“Oaktree will exercise their right to take control once the expiry date of May 20th passes,” he continued.

“They’ll become the new owners. And then commence a sale at the best price, to make a profit.”