Suning incurred losses of over 700 million euros in its investment in Inter Milan.

Oaktree Capital officially announced that it will replace Suning Sports as the owner of Inter Milan Football Club. An article in "Sports Weekly" stated that Suning incurred massive losses in its investment in Inter Milan.

According to "Sports Weekly," Zhang Kangyang's long-standing desire to hold the club contradicts Oaktree's plans when borrowing money. Originally, Oaktree expected Suning to use the money borrowed in May 2021 to first pay overdue salaries, then swiftly optimize the club's cost structure, and subsequently seek potential buyers, with the club being sold within a repayment period of three years. This way, Oaktree could enjoy proceeds from the sale, while Suning could avoid being left empty-handed.

However, Zhang Kangyang had a different approach. Initially, he sought funding from Pacific Investment Management Company (PIMCO), located in the Los Angeles area like Oaktree, aiming to secure a loan of approximately €430 million over two and a half years at around a 12% interest rate. The outcome suggests that he may have underestimated the severity of the situation and the technical difficulty of continuing to borrow from third-party institutions: as PIMCO withdrew from negotiations for some reason, the situation quickly deteriorated for him, leaving him with no choice but to wait for Oaktree Capital to take over the club.

For Chinese investors, the investment in Inter Milan is destined to end in massive losses. Suning's actual total investment in Inter Milan reached €1.044 billion. Inter Milan also issued €400 million in bonds. Assuming the club could be sold for €1.2 billion, after deducting this debt, the equity value would be €800 million. Subtracting the principal and interest of the three-year loan of €395 million, and Oaktree's 20% premium share (€80 million), Suning would only receive €325 million, meaning they incurred losses of over €700 million in the investment in Inter Milan.