MILAN – There would also be BC Partners among the international funds that are looking with interest at Inter’s situation, with the prospect of being able to invest in the club. Already immediately, or once the future of the property is defined in May, after the expiry of Oaktree’s loan to the company through which Zhang holds the majority of the shares. The indiscretion comes from a large Milanese law firm, which does not seek publicity. From the fund, based in London, the reaction is: “No comment”.
Inter balance sheet, half-yearly profit of 22 million thanks to the transfer market and sponsors
by Franco Vanni
March 26, 2024
The negotiation at the beginning of 2021
The name of BC Parners was linked to Inter in the months between 2020 and 2021, when it had the opportunity to carry out an in-depth due diligence, which to this day remains the only one ever carried out on the club’s accounts, of which have certain confirmations from the Nerazzurri club. The hypothesis of a sale of the majority of Inter shares vanished, since the Zhang family did not consider the overall valuation of 850 million made by the fund managers to be appropriate.
Steven Zhang, the Milan Court of Appeal agrees with his creditors: the case regarding the 320 million to be paid is recognized in Italy
by Franco Vanni
March 22, 2024
BC Partners’ investments in Italy
In Italy BC has already invested in various sectors, including frozen food: after having acquired the group formed by Pasticceria Bindi-Forno D’Asolo, a company with 277 million in revenues a year, it gave the mandate to Rothschild to sell it , starting from a valuation of one billion. And it’s no secret that managers have been considering entering the sports business for some time. Compared to other funds interested in Inter, BC has the advantage of having already been able to study the club’s structure closely. But it is also true that in the last three years Inter’s situation has changed a lot.
Inter, the scudetto and debts: Oaktree at the window waiting for Zhang
by Franco Vanni
March 21, 2024
More revenues and new loans
Compared to when BC evaluated the acquisition, Inter has won trophies and increased its revenue considerably, until it closed the half-yearly period on 31 December with a profit of 22 million. At the same time, the debt structure of the club has changed, which is burdened by a 415 million bond expiring in 2027, and of the Luxembourg company that controls it, to which the Oaktree fund granted a three-year loan of 275 million in 2021. Money that will be repaid next May, together with 100 million in interest.
A scenario that is still open
What will happen when the Oaktree loan expires? Various scenarios are possible, from the time extension of the financing, to Oaktree’s entry into management, up to a new loan that allows Zhang to remain in control. In this sense, the Chinese family is already in contact with several possible lenders. A complex scenario, still uncertain, and therefore attractive for private equity funds like BC Partners.
