Oaktree Capital Takes Control of Inter Milan Amid Missed Debt Payment

U.S. investment fund Oaktree Capital Management has taken control of Inter Milan after the Italian soccer club missed a $428 million debt payment. Despite the takeover, Oaktree plans to remain a patient investor and is not planning an immediate sale.

U.S. investment fund Oaktree Capital Management is not planning to sell Inter Milan immediately after it took control of the Italian soccer club following a missed debt payment, a source close to the matter said.

Oaktree will be a "patient investor", the source added.

Earlier on Wednesday the U.S. investment firm said it had taken ownership of Italian soccer champions Inter after a missed 395 million euro ($428 million) payment from the club's Chinese majority shareholder.