The ticking timebomb of Inter Milan's debt has been something I've been following close enough with great interest.
Last year with big sales, run to the CL final, and Scudetto, Inter lost nearly 90m. Lower than the 140m in 22/23 and 245m in 21/22 but still a massive loss.
But its much worse than that. The loan with Oaktree with a TWELVE percent interest rate is coming due where they must either pay it by February (they can't), refinance it (oof), or sell the club. That current loan, including interest, is about 330m. Otherwise Oaktree can make that debt become equity in the club if it matures in March and repossess Inter. You read that right. Inter might get repo'd!
But even worse is the loan Zhang took out with CCBA for 165m and an 85m bond to help him float during end of COVID which he later contested he was not liable for and his signatures were forged. This was thrown out in HK court and now CCBA has started filing in New York to chase his finances down (he says he makes no money and has no assets) and hopefully discovery will do just that. He has also no-showed for appearances to be questioned and also suffered a summary judgment to HK court.
AND to top it off Inter just recently refinanced ANOTHER bond 415m bond with a 6.75 interest rate.
May 20th, 2024 is when the Oaktree loan matures and Oaktree can take over the club if Zhang doesn't pay them off or refinance. And refinancing won't be a quick or easy process, complicated by current interest rates.
How long can this house of cards remain standing and why has UEFA not stepped in?