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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

Dimarco salutes Zhang

Federico Dimarco: “Thank you Steven, I will never forget what you did for me and our club colours. All together, we took Inter back where they deserve to be and that will remain forever.”

First image of Marotta with new Inter owners
MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale Alessandro Antonello, Oaktree’s Global Opportunities strategy Managing Director Katherine Ralph, Managing Director and Co-Head of Europe for Oaktree’s Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club’s Management on May 22, 2024 in Milan, Italy. (Photo by Guido De Bortoli/Getty Images)
Bellinazzo

Financial journalist Marco Bellinazzo sees ‘good news’ for Inter with Oaktree takeover: “The uncertainty tied to Zhang’s situation over the last few years is over. The short-term perspective will be to finalise the renewals and the operations that have already started. Even before [the takeover] we didn’t expect big signings, but the confirmation of the current team.”

Sky Sport via FCInter1908.

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