Sports
Serie A Champions Under Threat Over Debt
Inter Milan could change hands days after being crowned Italian champions as yesterday’s deadline for a near 400 million-euro debt repayment reared into view.
Simone Inzaghi’s Inter team held aloft the Serie A trophy after Sunday’s meaningless 1-1 draw with Lazio having already secured the league title with five matches to spare last month.
But a planned weekend of celebrations was overshadowed by the prospect of one of Europe’s biggest clubs being taken over by US investment fund Oaktree, who are waiting on 395 million euros ($429 million) from Inter’s Chinese owners Suning.
Suning borrowed 275 million euros at over 12 percent interest three years ago to pay staff and players as the Covid-19 pandemic ravaged the finances of clubs across Europe.
Inter were put up as collateral against that debt and Oaktree could decide to claim control of the club when the debt matures, with a source familiar with the matter telling our source that Oaktree had not yet received a single euro.
Inter posted losses of 85 million euros in the 2022/23 season, following even heavier losses of 140 million euros and 245.6 million euros in the previous two seasons as stadiums were partially or fully closed due to the pandemic.
Last Saturday, Inter president Steven Zhang, the son of Suning founder Zhang Jindong, had claimed that Oaktree, who manage $192 billion in assets, were jeopardising the club’s financial stability with unspecified legal threats.
Zhang, who has not been to Italy over a year and lost a court case with China Construction Bank over personal debts of 320 million euros, claimed that Oaktree had been actively obstructing negotiations for full repayment.
He had been widely reported as negotiating a further 430 million euro loan with another US fund, Pimco, to pay off Oaktree.
But the source disclosed that no documents had been exchanged that suggest Suning had found either a credible buyer for Inter or a refinancing partner.
As a result, Inter are increasingly likely to end up in the hands of Oaktree in manner similar to the way another US fund, Elliott Management, took control of their local rivals AC Milan in 2018.
Elliott became Milan’s owners when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from the late Silvio Berlusconi’s Fininvest the previous year.
An announcement was not expected on yesterday, but if repayment is not made and Oaktree decide to take control of Inter, the source said, the takeover process will not be lengthy.
Isaako All Stars FC of Opuoko and Khana Khana AllStars Football all in Local Government Area of Rivers State will tomorrow engage in a friendly football match at Opuoko Mini Stadium.
Chatting with Tidesports in a telephone interview yesterday the Chairman of Khana All Stars Saro Tap-le said that the encounter is not going to be an easy game in spite it is an AllStars game.
He express his side readiness for the encounter stating that the opportunity as come for them to showcase their talents.
However, the chairman explained that AllStars game is not about winning but the excitement, love, unity and friendship it creates is more important.
” Tomorrow game is not going to be an easy one despite is a AllStars game. We are going there in a full force to do what we know how to do best and to showcase our talents.
“As Chairman of Khana All Stars I believes we have an edge over the Isaako All Stars be we are training so hard for the encounter” Tap-le said.
Also speaking the Chairman of Isaako All Stars Mina Zaasi Iloori sees the match as an opportunity to build relationships.
” My brother it is an AllStars friendly game I think winning is not important but the paramount thing is the relationship we are going to create among both teams and my community at large
” We are training hard because of the encounter because I will not be in my house and somebody will rob soap in my eyes.
” As I speak with you we are just coming from back training ground to ensure all my players are fit for the match.
” I am using this medium to call on football fans to come en mass to Opuoko Mini Stadium tomorrow and enjoy the best of round leather game.
I promise the game will be an exciting display of football talents and sportsmanship”, Iloori said.
Kiadum Edookor
Thierry Henry has called for the return of the away goals rule in the aftermath of the bombastic Champions League semi-final between Inter Milan and Barcelona.
The visitors at the Estadio Olimpic Lluis Companys came within milimeters of clinching the first leg of the final-four clash after former Arsenal star Henrikh Mkhitaryan netted late in the second-half.
But the linesman was quick to raise his flag, and semi-automated offside ruled out what would have been a thrilling conclusion to the high-octane 3-3 draw.
The hosts came from behind twice to share the spoils, chasing Inter Milan from the first minute of the game after Marcus Thuram stunned the Barcelona faithful into silence with his neatly flicked goal.
Denzel Dumfries doubled Inter’s lead 20 minutes later, but it took just three more for the Blaugrana to finally get on the scoresheet courtesy of a moment of magic from teenage starlet Lamine Yamal.
Ferran Torres drew Barcelona level ahead of the break, but Lamal was forced to play catch-up again in the second-half after Dumfries scored his second.
In light of the impressive effort from Inter, Henry wondered if the team should have got more from the fixture ahead of the second-leg at the San Siro.
‘I know it’s been like that for a very time, and we have to accept it,’ Henry said of the removal of the away goals rule, ‘But off air I was talking to Jamie (Carragher), and I was like, “how can you score three goals away from home and you don’t have an advantage?”
‘Away goals for me were massive, you score three goals away and you still don’t have an advantage 0-0 at home,’ Henry shrugged.
UEFA took the decision to scrap the rule which gave goals scored away from home the ability to act as a tiebreaker in the case of level scorelines ahead of the 2021-22 season.
Current FIFA Chief of Global Football Development Arsene Wenger claimed during his time as Arsenal manager in 2015 that the away goals rule ‘encouraged the team at home not to attack’ and that ‘the weight of the away goal (was) too big today’.
Without the rules, the tie at San Siro will go to extra time and penalties to decide which teams books their spot in the Champions League final.
But based on Wednesday evening’s performance, Henry seemed to give Inter a fighting chance against the newly minted Copa del Rey champions.
The 2025 London Marathon set a new world record for the number of finishers despite hot conditions on Sunday for its 45th edition.
A total of 56,640 runners crossed the finish line at the end of the 26.2-mile route, Guinness World Records has confirmed.
The number surpassed the previous record of 55,646 set by the New York Marathon in November.
Hugh Brasher, chief executive of London Marathon Events, said he hoped the high number of finishers inspired people to apply for the 2026 race ballot.
“The London Marathon was already the most popular in terms of ballot entries, with 840,318 people applying for the 2025 race,” he said.
“It is also the world’s largest annual one-day fundraising event with more than £1.3bn raised for charity since 1981.”
The number of people applying for the ballot to enter this year’s race broke the world record of 578,304 for the 2024 edition.
Of UK applicants 49% were female, while there was a 105% increase in applications from people aged between 20-29.
Ethiopia’s Tigst Assefa surged to victory in the elite women’s race in a world record for a women’s only field, while Kenya’s Sebastian Sawe triumphed in the men’s event.