Latest news with #OaktreeCapital
Yahoo
3 days ago
- Business
- Yahoo
Inter Milan President Says Oaktree Capital: ‘Didn't Expect These Kinds Of Results' Ahead Of Champions League Final Vs PSG
Inter Milan President Says Oaktree Capital: 'Didn't Expect These Kinds Of Results' Ahead Of Champions League Final Vs PSG Beppe Marotta says that Oaktree Capital 'didn't expect these kinds of results' at Inter Milan ahead of the Champions League final against PSG. The Nerazzurri President spoke to Italian broadcaster Sky Sport Italia, via FCInterNews, ahead of the match. Advertisement Inter Milan are in the Champions League final just over a year after Oaktree Capital took over the club. The North American fund arrived last May. They took over from Suning after the Chinese company had defaulted on a large loan. In a certain sense, it's not surprising that Inter are here. The Nerazzurri were in the Champions League final already just two years ago. Moreover, last season Inter managed to win the Serie A title in absolutely emphatic fashion. And last summer, they kept that squad intact. Therefore, there were no doubts that this Inter are a strong team. However, at the same time, Inter simply do not have the financial resources that other teams in Europe's elite do. Even if the picture has improved in recent years, and they have changed ownership. Marotta: 'Oaktree Didn't Expect These Results At Inter' Ahead Of Final Vs PSG MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale Alessandro Antonello, Oaktree's Global Opportunities strategy Managing Director Katherine Ralph, Managing Director and Co-Head of Europe for Oaktree's Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club's Management on May 22, 2024 in Milan, Italy. (Photo by Guido) Inter President Beppe Marotta said of the club's owners Oaktree Capital that 'I'm not going to say they're surprised.' Advertisement 'But they didn't expect these kinds of results. And they're very happy.' Marotta noted that Oaktree's representatives 'are all here today.' 'We're happy to repay their trust in us,' he added. 'Their presence is silent. But constant and reassuring. They don't bother us.' Marotta then noted that 'the operations behind the scenes have remained unchanged' under Oaktree's ownership. 'And we've all managed to reach this goal together. We've made everyone and the fans happy.' Meanwhile, Marotta admitted that it's 'an extraordinary feeling' for Inter to be in the Champions League this evening. 'This is the most important event of the year,' he said. Advertisement 'So it's normal that the fans are heavily involved.' Then, Marotta noted that 'this team is made up of seven elevenths of the players who started in Istanbul,' referring to Inter's last Champions League final. 'They've gained experience by competing against the biggest teams in Europe.' 'This means that their awareness of what it means to be here and their professionalism have grown to face opponents at the European level,' the Inter President continued. 'I've seen a big change,' he said. 'So today, the performances will be very positive.' 'Then we're facing a great team. So will see what the pitch says.'
Yahoo
3 days ago
- Business
- Yahoo
PSG Club Value & Squad Cost More Than Double That Of Champions League Opponents Inter Milan
PSG Club Value & Squad Cost More Than Double That Of Champions League Opponents Inter Milan The squad cost of PSG is more than double that of their Champions League final opponents Inter Milan. This is highlighted in today's print edition of Turin-based newspaper Tuttosport, via FCInterNews. Paris Saint-Germain are in the Champions League final. This is the second final in their history. Advertisement And winning Europe's biggest prize has always been the biggest objective for PSG since their Qatari takeover in 2011. Qatari Emir Tamim Al Thani bought PSG in 2011 for €100 million. The Qatari ownership has invested €1.3 billion in the club since then, the Gazzetta note. PSG's commercial profile has grown enormously under its present ownership. From the arrival of big name players to the high profile partnership with Nike Jordan, the value of the French club has risen to €3.8 billion according to Football Benchmark. Meanwhile, Football Benchmark value PSG's Champions League final opponents Inter at €1.7 billion under Oaktree Capital. PSG Squad Cost More Than Double That Of UCL Final Opponents Inter Milan MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale Alessandro Antonello, Oaktree's Global Opportunities strategy Managing Director Katherine Ralph, Managing Director and Co-Head of Europe for Oaktree's Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club's Management on May 22, 2024 in Milan, Italy. (Photo by Guido) Then, there is the big disparity in the squad costs of PSG and Inter Milan respectively. Advertisement PSG's squad cost between rages and transfer fee amortization comes to €790 million for the 2023-24 season, notes the Gazzetta. Meanwhile, for Inter, that figure stands at €309 million. On wages alone, PSG spent a total of €659 million last season. Meanwhile, for Inter that figure was €257 million.
The Guardian
4 days ago
- Business
- The Guardian
Capitalism v despotism: Inter v PSG is clash of styles on and off pitch
In 2021, Oaktree Capital quietly rebranded its 'Distressed Debt' division as the 'Opportunistic Credit' platform. For decades the LA-based investment fund had specialised in picking up what is known in the trade as distressed assets, a strategy it described as looking for 'good companies with bad balance sheets'. So let's say your company is screwed. You're deep in debt, severely short of cash, perhaps even at risk of bankruptcy or default. In sweep Oaktree. They have a mosey around, shake down some creditors, restructure your cost base, perhaps offer you a high‑interest loan to stop the bleeding. Once they've got you battle-lean they find you a buyer, you sell up, and they take a fat cut. Four years ago, as they cast an eye over the Covid-emaciated carcass of Inter, this was exactly the strategy they had in mind. Oaktree never intended to own Inter. Their objective was to sustain the ownership of Chinese conglomerate Suning for as long it took to help them sell up, and then cash in. But as the debts accumulated and successive restructurings failed, potential buyers took flight. When Suning defaulted on a debt repayment last May, Oaktree took over the club pretty much by default. And over the course of 12 months you might say what began as a distressed debt has unexpectedly turned into an opportunistic credit. Saturday evening's Champions League final is a jarring and stirring clash of styles in so many ways. The relentless attack of Paris Saint-Germain and the relentless defence of Inter. One team built on the freehand wizardry of youth and one built on the weathered edifice of experience. Flying wingers against flying wing-backs, two strikers against none. But perhaps the biggest philosophical difference is between two radically different models of a football club itself: who it serves, what it can be, what constitutes success, and how to get there. At which point we feel duty-bound to point out just how thrilling and charismatic this young PSG team are, how humble and local, how refreshingly unlike their predecessors. But of course this is still a team assembled at eyewatering expense. Désiré Doué, that lovable homegrown winger: yeah, he cost £45m. Bradley Barcola, he was £40m. Then there was the £60m casually dropped on Khvicha Kvaratskhelia in the January window, an unimaginable expense for most Champions League sides, let alone PSG's domestic rivals. Obviously this has always been the calculation in Paris: that immense wealth, plus royalty, multiplied by immaculate PR, equals effortless class. Move quickly, break things, make new things. In a way, the pivot-to-likable is simply another example of Parisian/Qatari soft power, the ability to reshape a narrative, another perfectly executed branding exercise by a state where women can still lose their right to financial support if they refuse to have sex with their husband 'without a legitimate reason'. And of course PSG can afford all this, can bin off failing players, can wear the big losses, because their mission is far bigger than one Champions League, one Deloitte money list, bigger even than football. In a way Qatari investment has been the ultimate 4D chess game: a complex apparatus of sportswashing and political favour and designer leisurewear, erected over more than a decade and whose success can only ever partly be measured by Marquinhos's ability to head away corners. The American investor model, by contrast, measures value in much starker terms. Here the profligacy of PSG is met by the distressed austerity of Inter, an empire not so much being built as nibbled away. Prized assets like Achraf Hakimi and André Onana must be sold to make way for older, budget replacements. Of course there can be no long-term vision here with your ageing squad and council-owned stadium and depressed commercial value. Qatar Airways pay PSG £60m a year for shirt sponsorship; last year a similar offer to Inter was worth around a quarter of that. Howard Marks, the co-founder of Oaktree, often explains investing strategies using sporting analogies. 'If we avoid the losers, the winners will take care of themselves,' goes one of his maxims. As a result of their improbable, hugely impressive run to the Champions League final, Inter have already swollen in value: over £1bn, according to some estimates. They are no longer a financial shambles. Whatever happens from here, Oaktree's initial investment has paid off handsomely. So, while fans scream for investment in the squad, a new stadium, a transfer war chest to keep Simone Inzaghi at the club, for the dispassionate investor the temptation to sit on this gently appreciating asset, to wait it out, must be immense. No Champions League, no scudetto, no problem: just a secure annual yield, pure viability, pure opportunistic credit. Inter probably go into this game as the favoured choice of most neutrals and purists. But on a sporting level, is either of these models really more romantic than the other? Not really. In the same way that Ousmane Dembélé and Warren Zaïre-Emery are not consciously playing for a state investment fund, Oaktree are not really doing it for the Curva Nord, for the ghosts of Herrera and Facchetti, for the hallowed reputation of Italian football. Until clubs are genuinely owned by their people, these are the sorts of compromises we will continue to endure. A vehicle for geopolitics against a vehicle for pure profit; vulture despotism against cold vulture capitalism. As it ever was in modern football: choose your fighter.
Yahoo
26-05-2025
- Business
- Yahoo
Report – Oaktree Want Cesc Fabregas At Inter Milan If Inzaghi Makes Shock Al-Hilal Move
Oaktree Capital reportedly want Como coach Cesc Fabregas at Inter Milan if Simone Inzaghi were to leave for Al-Hilal. This according to today's print edition of Milan-based newspaper Corriere della Sera, via FCInterNews. The rumours linking Simone Inzaghi to Al-Hilal have been persistent over the last few days. Reportedly, the Saudi Pro League club have made a huge financial offer to try and lure the 49-year-old Inter coach. For their part, Inter do not have any intention of parting ways with Inzaghi. The Nerazzurri's plan remains to try and agree on a new contract with Inzaghi. They'll sit down with the former Lazio coach after the Champions League final to offer an extension and plan for the future. However, Inter Milan do need to have a contingency plan in case Inzaghi tells them that he has accepted Al-Hilal's offer. The absolutely gargantuan figures he could earn could turn his head. Therefore, the Nerazzurri are drawing up a list of candidates to replace Inzaghi behind the scenes. The Corriere della Sera report that Inter President Beppe Marotta would see Max Allegri as an ideal replacement for Inzaghi. The Nerazzurri President trusts Allegri, who he worked with very successfully at Juventus. However, reports the Corriere della Sera, Inter owners Oaktree Capital would prefer to go a different route. The Nerazzurri owners don't want a veteran coach like Allegri – they'd prefer a younger and more exciting candidate.
Yahoo
24-05-2025
- Business
- Yahoo
Bloomberg – Inter Milan Could Follow Barcelona, Tottenham Hotspur & Roma By Refinancing Bond With Private Debt
Bloomberg – Inter Milan Could Follow Barcelona, Tottenham Hotspur & Roma By Refinancing Bond With Private Debt Inter Milan could turn to the private debt market to refinance their bond, following the lead of Barcelona, Spurs, and Roma. This according to US financial outlet Bloomberg. They report that Nerazzurri owners Oaktree Capital would back up this refinancing strategy with the club's broadcasting and sponsorship revenues. Advertisement Inter Milan have a sizable debt bond. Held by the Inter Media and Communication SpA company, the Nerazzurri's bond is worth over €400 million. And that bond comes due in 2027. Therefore, the Nerazzurri must refinance the bond before then. And according to Bloomberg, Inter owners Oaktree Capital have a clear idea on the path forward. Inter Milan Could Refinance Bond With Private Debt – Following Barcelona, Roma & Spurs UDINE, ITALY – SEPTEMBER 18: Giuseppe Marotta, CEO for sport at FC Internazionale looks on prior to the Serie A match between Udinese Calcio and FC Internazionale at Dacia Arena on September 18, 2022 in Udine, Italy. (Photo by) According to Bloomberg, Inter Milan could turn to the private debt market. This would entail refinancing their bond through funds such as asset management firms, insurance companies, and pension funds. Advertisement Such a strategy is common in the US financial world. It would have the advantage of longer maturities on the bond in the future in comparison to high-yield bonds. Bloomberg note that Inter could back up such an approach with their high revenues from broadcasting deals and sponsorships. And the outlet also highlight the fact that in Serie A, Roma already converted their own high-yield bond by refinancing privately. And around Europe, the likes of Barcelona and Tottenahm Hotspur have also done so.
