Sorry I couldn’t post this as a separate thread, but this was getting flagged as a ticket re-sale post. The comments will do. Ask any clarifying questions if you have.
I have been keeping up with our debt situation quite closely for the last few years (internal & Zhang’s) and have been sharing any details on this subreddit when fellow interista’s ask for clarification.
I’ll say out of all the twists and turns in the story, this has shocked me the most and the implications are astounding.
**What is the Oaktree loan?**
During the pandemic Inter and many other Serie A clubs had liquidity problems due to the shock of the pandemic(on tickets sales, matchday, sponsors, etc). In 2021 Zhang used his shares of the club as collateral for a loan provided by Oaktree for 270m Euro, **with an interest rate of 12.% that will have to be paid in full on May 20 for a sum of 400m Euro.**
Fuck Oaktree
There’s one particular aspect which I don’t really get is it sounds like Oaktree didn’t even want Zhang/Pimco to repay the principle amount and interest. Instead they wanted him to default on the loan so they could sell the club. The whole thing sounds very illegal on their part.
Could someone with a background in finance/law please clarify this
The thing i’m not understanding is how oaktree is hindering the Pimco/zhang negotiations? What powers do they have on this, zhang has the majoriry and is the president, how can he be Forced to withdraw an accord with another fund
![[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS]](https://www.europesays.com/wp-content/uploads/2024/05/NCXrcUhDCf3VM_Jk35kbpu0zKIeG4P4lsfkhPE31M4E.jpg)
4 comments
Sorry I couldn’t post this as a separate thread, but this was getting flagged as a ticket re-sale post. The comments will do. Ask any clarifying questions if you have.
I have been keeping up with our debt situation quite closely for the last few years (internal & Zhang’s) and have been sharing any details on this subreddit when fellow interista’s ask for clarification.
I’ll say out of all the twists and turns in the story, this has shocked me the most and the implications are astounding.
**What is the Oaktree loan?**
During the pandemic Inter and many other Serie A clubs had liquidity problems due to the shock of the pandemic(on tickets sales, matchday, sponsors, etc). In 2021 Zhang used his shares of the club as collateral for a loan provided by Oaktree for 270m Euro, **with an interest rate of 12.% that will have to be paid in full on May 20 for a sum of 400m Euro.**
Fuck Oaktree
There’s one particular aspect which I don’t really get is it sounds like Oaktree didn’t even want Zhang/Pimco to repay the principle amount and interest. Instead they wanted him to default on the loan so they could sell the club. The whole thing sounds very illegal on their part.
Could someone with a background in finance/law please clarify this
The thing i’m not understanding is how oaktree is hindering the Pimco/zhang negotiations?
What powers do they have on this, zhang has the majoriry and is the president, how can he be Forced to withdraw an accord with another fund