Inter’s American era officially began on 22 May, with Oaktree’s press release: here are all the fund’s plans
Inter’s American era officially began on May 22nd, with the statement from Oaktree. The first operational meeting between the two Nerazzurri CEOs, Beppe Marotta and Alessandro Antonello, and the manager of the American fund Alejandro Cano with the lawyer Katherine Ralph took place yesterday. As reported by the Gazzetta dello Sport, it was “a meeting in which Oaktree wanted to know the management model and short-term programs from the voices of the managers. And at the same time it illustrated its vision, immediately pushing on a key: the increase in revenues to ensure that «operational and financial stability » cited in the press release.
Oaktree’s intentions
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Having said the initial reply to President Zhang’s letter, the rosy then highlights the fundamental passages of the Oaktree statement. “With particular attention to one adjective, “long”, used twice. The first time: «Oaktree is dedicated to achieving the best result for the long-term prosperity of Inter, with an initial focus on the operational and financial stability of the club » The second time, in the words of Alejandro Cano, the reference for Europe of Oaktree’s Global Opportunities strategy: «Our goal is to continue the success achieved in the field with a path of long-term growth and success». then: winning is certainly the goal for a club that has just won its second star: it couldn’t be otherwise.
The emphasis should rather be placed on… the long term: Oaktree is not taking Inter to resell it in the short term. It is also wrong to talk about time horizons, because they will be dictated by the ability to increase value and the simultaneous presence of a buyer. Finally, again from the press release, the confirmation of the management who has just won the scudetto: «Oaktree intends to work closely with the current Inter management team, partners, the League and the sport’s governing bodies to ensure the club is positioned for success on and off the pitch, focusing on strong management and governance with a vision of sustainable and successful growth.”
Now more revenue
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Actions follow words, it was said. The two men from Oaktree, Cano and Ralph were in Milan yesterday and not passing through. In the sense that they will be in the city again next week for another meeting. And it’s good to get used to it, because Oaktree’s desire is to be physically present inside the club. The Californian fund expressed its satisfaction with the sporting results and the management model, appreciated the improvement in the accounts but also underlined the need to reduce liabilities further and grow more. As? Through the increase in revenues from the commercial area and the confirmation of those deriving from sporting results. If you think about it, this last step is the best possible guarantee for Inter fans. The fund is in no hurry. Indeed, patience is a concept often used between Los Angeles and Milan. The new stadium will inevitably be a central theme. Now, however, we need to manage the transition from one property to another.
