Inter Milan president Zhang turns to British lender to maintain club ownership
Inter Milan president Steven Zhang is ready to turn to the UK to maintain Suning's ownership.
Zhang has found a new British lender to cover the loan taken out with Americans, Oaktree.
La Gazzetta dello Sport says he was in advanced talks for a renewal of the loan with Oaktree, for a figure that reached 375 million euros.
The Americans, however, set the conditions for a shorter timeframe, 12 or 24 months at most, and a higher interest rate than the 12% of the last agreement. The conditions that he would have managed to extract from the new lender, now in pole position, are different. Caution is needed before signing, but the operation, according to those who are following it directly, is close to settling.
The British fund would be ready to guarantee Zhang a three-year loan of around 400 million euros and with an interest rate not too different from the 12% still active with Oaktree. Thus he would return the money to the Californian fund, in order to cancel the pledge on the company's shares, and at the same time he would do the same operation with the new fund. By 2027 Zhang expects to see revenues increase with the Club World Cup.
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