Inter Owner Nears New Loan to Retain Control of Team, Corriere Says [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
Chinese investor Steven Zhang, the club's chairman, is looking to refinance an existing €275 million credit with Oaktree that comes due next month, according to the report. An agreement with Pimco would give the team's owners a way to meet its financial obligations and retain control of Inter. A deal hasn't closed yet, Corriere said, adding that the financing could have a duration of three years. That could give ownership time to weigh possible projects, including a new stadium, the newspaper said, or look to sell it, possibly to Middle Eastern investors. Read more: Inter Milan Chairman in Talks With Saudi Investors The Pimco loan could also act as a bridge to allow a new investor into the team's capital, the daily said, citing financial industry sources. Although the current Suning Group ownership prefers to retain control of the team, it would entertain proposals of €1.2 billion and above for Inter, Corriere said. That sum would allow it to repay debts held by the club and
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