Oaktree takes over Inter Milan after Chinese owner missed payment

FILE PHOTO: Soccer Football - Serie A - Inter Milan v Lazio - San Siro, Milan, Italy - May 19, 2024 Inter Milan's Lautaro Martinez and teammates celebrate with the trophy after winning the Serie A REUTERS/Alessandro Garofalo

MILAN (Reuters) -U.S. investment fund Oaktree Capital Management said it had taken ownership of Italian soccer champions Inter Milan after a missed 395 million euro ($428 million) payment from the club's Chinese majority shareholder.

Granted by Oaktree in 2021 to the Luxembourg-based vehicle through which Chinese conglomerate Suning controlled Inter, the loan was guaranteed by the stake in the club.