Oaktree Capital acquires ownership of Inter Milan, making it latest European club with American owners

SEATTLE - For a good number of years now, European soccer clubs have been one of the priorities of American entrepreneurs and companies when it comes to investing in sports. No matter how big or small, the cultural and economical impact soccer has in Europe makes it a very profitable venture for American investors.

The latest European club to join the list is Serie A champions Inter Milan. On May 21, United States-based investment fund Oaktree Capital Management became the new owner of the Italian giants after the club's previous owner, Chinese company Suning, failed to meet a deadline to repay a $428 million loan, ceding control of the club to the American investment fund.

Chinese company Suning bought a majority stake in the club in 2016 but, in 2021, Oaktree granted a loan to the then Inter Milan owners under a scheme that would see them take control of the club if the loan wasn't paid in time.

The 'Nerazzurri' are now the seventh Serie A team to be under American ownership. Here's a look at the other six teams:

AC Milan

In 2022, RedBird Capital Partners, an investment management firm, bought the club for €1.2 billion. The firm has a long story in the world of sports, owning stakes at Fenway Sports Group (owners of Liverpool FC and the Boston Red Sox) and in the XFL football league.

Atalanta

This year's UEFA Europa League winners were bought by Stephen Pagliuca in 2022. An investment group led by the Boston Celtics co-owner bought 55% of the club from the Percassi family.

AS Roma

In 2020, a consortium run by U.S. billionaire Dan Friedkin took over the majority AS Roma for a reported price tag of $700 million. Friedkin is the owner of Gulf States Toyota, a franchise distributor that sells Toyotas in the southeast of the United States.

Fiorentina

'La Viola' was purchased by Italian-American cable TV entrepreneur Rocco Commisso in 2019. Although the price was not disclosed at the time, media reports estimate the transaction to be between $150 and $200 million. Commisso is also the owner of the USL soccer team New York Cosmos.

Genoa

The Miami-based investment firm 777 became full owners of Italy's oldest soccer club, Genoa CFC in September of 2021. It was reported that the private equity firm acquired the club for $175 million at its enterprise value.

Genoa became the second soccer club either partially or fully owned by 777, joining Sevilla. They now have equity in Standard Liège in Belgium, Red Star F.C. in France, CR Vasco da Gama in Brazil, Hertha BSC in Germany and are in the process of investing in English team Everton.

Parma

Parma Calcio will make its return to Serie A next season after spending three seasons in Italy's second tier. The club has changed hands a few times since being rebranded in 2015 after economic hardships. In 2020, the Iowa-based Krause Group bought 90% of the club in a deal valued at more than $100 million.

Playing in Serie A for the first time since 2021, Parma will be the seventh different Serie A team with partial or total American ownership ahead of the 2024-25 season.