Source: REUTERS/Alessandro Garofalo
[Saba Sports News] Reports suggest that Oaktree Fund has acquired a majority stake in Inter after Steven Zhang (Zhang Kangyang) failed to repay a 386 million euro loan by the May 21 deadline. As a result, the US fund can initiate the pledge process and acquire 99.6% of Inter shares. The necessary steps will be completed in the next few hours, followed by a shareholder meeting within 15 to 20 days to elect new board members. Additionally, the first board meeting with the new chairman will be held. However, before proceeding, Zhang Kangyang must step down. During Zhang’s tenure, Inter won two Serie A titles, two Coppa Italian, three Italian Super Cups, and finished as runners-up in two European competitions. Zhang Kangyang and Angelo Moratti have together won a total of seven trophies for Inter, second only to Massimo Moratti, the son of Angelo Moratti.