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Oaktree completes Inter takeover – Live updates and reactions
Check out all the latest updates and reactions after Oaktree confirmed to have acquired Inter after ex-President Steven Zhang failed to repay a debt of nearly €400m.
American fund Oaktree confirmed to have taken control of Serie A champions Inter with an official statement on Wednesday morning.
The takeover was completed when the deadline for a loan's term of nearly €400m, including interests, expired on May 21.
Oaktree takes control of Inter: What happens now?
Oaktree's official statement confirms that current directors, including Beppe Marotta and Alessandro Antonello, will retain their roles and will be running the club during the transition.
It also suggests that Oaktree are not immediately looking for buyers, as the fund said it is "dedicated to achieving the best outcome for long-term prosperity."
A new board of directors, including a new president, will be appointed in the coming weeks. It remains to be seen whether Inter legend Javier Zanetti will be appointed for the role, as suggested in a report from Tuttosport.
Zhang's Suning acquired Inter from Erick Thohir in 2016 and won seven trophies during its reign, including two Serie A titles.
Check the latest updates and live reactions below
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