US fund giant Oaktree Capital – best known here as the owner of The Square Tallaght shopping centre and purchaser of soured loans from the main Irish banks – is set to buy a minority stake in Inter Milan as part of a €275m deal aimed at shoring up the Italian soccer team’s troubled finances. The move could eventually lead Oaktree to take full control of the team from its Chinese owner, the conglomerate Suning Holdings. Pressure is mounting on Inter Milan to shore up its finances following the collapse of the Super League project, which held the promise of injecting more than €300m of cash into the Italian team. Inter Milan's rival AC Milan is also controlled by a US investment fund, Elliott Management. Backed by Wall Street giant JP Morgan, its proponents said the Covid crisis had exposed the finances of European soccer.

Source: Irish Examiner May 19, 2021 16:25 UTC