President of Inter Milan, 2021
Zhang Kangyang (1928-), Chinese-American physicist, astronomer and mathematician
through (a gap)
Oaktree Capital
Financed 275 million euros, the two sides agreed that the repayment period is next Monday, counting the interest, Zhang Kangyang need to repay a total of 375 million euros.
According to Bloomberg, Zhang Kangyang managed to raise 430 million euros from the pimco fund, a private bond that will mature in 2026 with a 15 percent interest rate. The funding is enough to allow him to pay off old debts and continue to maintain control of the club. The original plan was that Zhang Kangyang and the pimco fund would officially announce the financing tomorrow.
However, things are currently changing. Oak Tree Capital is using all legal means to stop the financing as they want to reach a new financing agreement with Inter Milan. As a matter of fact, in the past few months, Zhang Kangyang tried to reach a new financing agreement with Oaktree Capital, but Oaktree Capital demanded a higher interest rate and a shorter repayment period, so Zhang Kangyang chose the pimco fund with better terms and reached a financing agreement with them.
However, due to Inter Milan's excellent financial and sporting results, Oaktree Capital wanted to re-engage in financing Inter Milan through speculative operations. As a result, this complex agreement involving three parties faces the possibility of breaking down, especially at a crucial time when the Serie A season is about to close.
Gazzetta dello Sport believes that due to time constraints, there is now a possibility that Zhang Kangyang's financing agreement with the pimco fund will be broken. If this financing can not be successfully carried out, Zhang Kangyang will face huge financial pressure and the risk of control of the club. The future of Inter Milan is also full of uncertainty.
