Pimco and Inter drift apart: Oaktree expected Zhang to sell the club, three possible scenarios


According to Gazzetta dello Sport, the anticipated agreement between Pimco and Inter Milan has fallen through, while Oaktree Capital is becoming more entrenched in the club. The silence on Friday is seen as a further sign of a breakdown in negotiations between club president Steven Zhang and Pimco, the fund that was supposed to help Suning liquidate Oaktree’s stake. Oaktree, leveraging its pledge on the club’s shares and a 20% clause on any future sale, is reportedly derailing the deal with Pimco.

As the 20 May deadline for the loan repayment approaches, Gazzetta dello Sport (via FCINter) outlines three potential outcomes for Inter Milan’s ownership situation:

1. Extension of Terms by Oaktree: The first scenario, considered the least likely but still possible, is that Oaktree might extend the terms beyond the Monday deadline (effectively Tuesday, due to a public holiday in Luxembourg). This extension would allow Inter to finalize the agreement with Pimco.

2. Short-Term Refinancing Agreement: The second option is for Inter and Oaktree to restart discussions for a short-term refinancing deal. This would grant Inter six additional months to sell the club, enabling Oaktree to collect the accrued interest and secure their 20% share of the sale price.

3. Oaktree Takes Immediate Control: The third and most drastic scenario involves Oaktree seizing the pledged shares and immediately taking control of Inter Milan. Given Oaktree’s intentions, this would likely result in the club being sold to a new owner.

Sources close to Gazzetta dello Sport reveal that Oaktree had anticipated the sale of Inter within the past three years. Zhang, however, remains calm and intends to utilize every available moment to maintain his hold on the club.


Serie A obsessive.