Oaktree Capital Management Inter Milan strategic shifts

Oaktree Capital Management, the owner of Inter Milan, has moved from evaluating external investment interest to exploring strategic expansion through multi-club ownership.

Initially, the fund was reviewing several expressions of interest from high-net-worth entities and investment funds regarding minority stakes in Inter Milan. Financial valuations for the club varied, with estimates ranging from approximately €1.5 billion to €2.1 billion.

Following these evaluations, Oaktree began exploring the acquisition of a second European football club to act as a satellite development platform. This initiative aims to create a pathway for young players to gain experience before joining Inter Milan’s first team. The fund is targeting top-flight clubs in regions such as Portugal, Belgium, the Netherlands, or Switzerland. To adhere to UEFA regulations, the strategy focuses on ensuring the two clubs do not qualify for the same European competitions.

Oaktree is now reportedly looking to implement a multi-club ownership model similar to those utilized by City Football Group and Red Bull. The proposed satellite club would serve as a professional stepping stone between the youth academy and the Under-23 squad, providing consistent playing time for prospects and expanding international scouting capabilities, particularly in markets with flexible non-EU registration rules.

The fund has reportedly allocated a budget of approximately €25 million to €40 million for this acquisition. While primary interest remains in the top divisions of Belgium, Portugal, the Netherlands, and Switzerland, Oaktree is also monitoring the Spanish second division. The ownership aims to finalize an acquisition in time for the upcoming summer transfer window to ensure the new asset is operational for the next season.