MILAN (Reuters) - U.S. investment fund Oaktree Capital Management has injected a total of 47 million euros ($52 million) in capital into Inter Milan, the Italian soccer champions said on Wednesday, presenting financial results.
Oaktree took ownership of the Serie A team in May after a missed 395 million euro payment from its Chinese former majority shareholder.
"The ... investment is a demonstration of its commitment to the club's financial and operational stability to support the highest level of performance on and off the pitch," Inter said in a statement.
Oaktree, Inter's controlling shareholder, directly injected cash into the club for 44 million euros while a further three million euros in new capitals came from the conversion of the final portion of existing loans. It carried out the capital increase during the first quarter of the 2024-2025 fiscal year.
The club's loss shrunk to 36 million euros in the 2023-2024 fiscal year, from 85 million euros a year earlier, thanks to a revenue increase supported by positive sporting results, which boosted its commercial turnover.
"The club's summer transfer dealings balanced the acquisition of top-level players while progressing the objective of sustainable growth and success," it said.
($1 = 0.8966 euros)