Investcorp is looking for investors for the consortium and the advisor Corriere.it
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Investcorp, the private equity fund of Bahrain, has set its sights on Inter, fresh from the victory against Benfica in the first leg of the Champions League quarter-finals. After the summer rumors that saw the company ready to conquer Milan, a match then won by the RedBird Capital fund at the end of August, Investcorp, which has stakes in the Jacksonville Jaguars and in a Spanish team in La Liga, is moving to structure an offer for Inter. The fund, according to rumors in the financial press, would be inclined to lead a consortium of investors to raise up to 654 million dollars. Capital to be used then for the acquisition. We are therefore talking about half of the value of the Nerazzurri club estimated at around 1.2 billion (including debts). As Il Sole 24 Ore writes, a foreign investment bank could be appointed within days for consultancy.
Inter: the financial situation
The financial situation of the club is delicate.
The Oaktree Capital Management fund has already financed the parent company of Inter for 275 million euros and, although the current black and blue president Steven Zhang has denied his intention to sell the company in May 2024, Suning will have to repay the loan with interest . The amount to be paid to the US fund comes to about 350 million. If Zhang fails to repay the debt, he will lose the shares of Inter. The club would then become owned by Oaktree.
What is certain is that the Nerazzurri coffers would need further liquidity. The 2021-2022 financial statements reported 439.6 million in revenues and a net loss of 140 million, reduced by about 105 million compared to 245.6 million in 2021. If the Investcorp operation were to overcome Zhang’s resistance and go through it would fit in the wake of the Arab conquest of Western football. According to press rumors, Saudi Arabia is ready to pay up to 150 million for four editions of the Italian Super Cup. Qatar already owns Paris Saint Germain, the United Arab Emirates Manchester City and the Saudi fund Pif took over Newcastle in 2021.
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