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Serie A Champions Under Threat Over Debt

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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.

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I Joined Saudi League To Win Titles – Senegal Keeper

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Senegal goalkeeper Edouard Mendy has said that criticism that he and other players chased money by moving to Saudi Arabia is wide of the mark.
The 33-year-old left Chelsea for Al-Ahli in a £16m ($21.4m) deal in 2023, and in May the Africa Cup of Nations winner helped his Saudi club win the Asian Champions League, making him one of the few players to win both that competition and its European equivalent.
But, like many others, Mendy has been criticised for playing for money rather than prestige in the lucrative Saudi Pro League.
When asked about such criticism, Mendy told a Tidesports source, “Al-Ahli’s project came along and they made me feel I had a big role to play.
“Two years later, we won the Champions League for the first time in the club’s history. So yes, that validates my choice. And I hope the coming years will validate it even more.”
He added: “Some people will quickly jump to conclusions and say the only reason is money. From the start, I always said that when I left Chelsea, I knew I was joining another team where I could win everything , which was no longer the case at Chelsea.”
The Blues have since won the Conference League, Europe’s third-tier club competition, under the ownership of Todd Boehly and Clearlake Capital.
But it comes after the regime’s trophyless first two years, a period which has frustrated some supporters after the success enjoyed under Roman Abramovich’s stewardship in the previous 19 years.
Mendy has also been celebrating what he describes as a historical win with Senegal against England at Nottingham Forest’s City Ground, but days earlier he had been in Dakar delivering a different kind of win.
He is the sponsor of Yakaar, a school in Keur Massar, which seeks to improve funding and access to digital learning tools for local children from underprivileged backgrounds.
Famously, as Mendy grew up in France, he was unemployed, aged 22, while struggling to find a club, with members of his family still living on the outskirts of Dakar.
That is why Yakaar, a word meaning “hope”, was chosen, a word Mendy has carried with him in his career.
“Hope is what kept me going. When I was without a club, it was the hope of getting that first professional contract.
“Then the hope of playing for the national team. The hope of making my family proud by doing the job I had always dreamed of.
“Indeed, hope is the best word to describe my career.”
Mendy was also asked whether the responsibility of being an African goalkeeper had weighed heavily on him.
“Of course. When I was in England, there weren’t many African goalkeepers in top clubs,” he admitted.
“Whether nationally or internationally, I had that responsibility. It’s the same for other African goalkeepers like Andre Onana [Manchester United] or Yassine Bounou (Al-Hilal).”

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Spanish Football Fires Entire Refereeing Committee

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The entire refereeing committee has been fired by the Spanish Football Federation (RFEF), with structural reforms soon set to follow.
According to sources, the Spanish Football Federation (RFEF) has dismissed the entire refereeing committee in response to mounting pressure from clubs demanding structural reform. A major shake-up aimed at modernising Spanish refereeing from top to bottom has now been set in motion.
Head of the Technical Committee of Referees (CTA), Luis Medina Cantalejo and Head of VAR, Carlos Clos Gomez, have been removed from their positions. They are joined by several senior officials, including Antonio Rubinos Perez and three vice presidents, who are also stepping down. A new leadership model will be introduced, led by a CEO and a sporting director, aiming to overhaul how refereeing is managed covering assessments, promotions, and daily operations. While the leadership changes are sweeping, the current pool of referees in La Liga and the second tier will remain, ensuring continuity on the field during the transition.

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Ronaldo Renews Stay With Saudi Pro League

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Cristiano Ronaldo has signed a new two-year contract with Al-Nassr that means he will stay with the Saudi Pro League club until beyond his 42nd birthday.
The Portugal captain, 40, joined the Riyadh-based team in December 2022 after leaving Manchester United in acrimonious circumstances, having criticised the club and said he had no respect for manager Erik ten Hag.
Ronaldo’s Al-Nassr deal had been due to expire at the end of June and there was speculation he could leave, but that has now been quashed.
In a post on X, Ronaldo wrote: “A new chapter begins. Same passion, same dream. Let’s make history together.”
Although Al-Nassr have not added to their nine domestic titles during Ronaldo’s time at the club, they have benefited from a flood of goals from the five-time Ballon d’Or winner.
Ronaldo scored 35 times in 41 matches across all competitions last term and was the league’s top scorer for a second consecutive season.
He has managed 99 goals in appearances overall for Al-Nassr and is well on his way to reaching 1,000 senior goals in his career, with a current tally of 938 for club and country.
Having helped Portugal win the Uefa Nations League a little over two weeks ago, the former Manchester United, Real Madrid, Sporting and Juventus forward will almost certainly now be targeting a sixth World Cup appearance next summer.
Only a month ago, Ronaldo posted on social media to say “the chapter is over”.
That came after the Saudi Pro League wrapped up with Al-Nassr finishing third and trophyless once again.
The comment fuelled rumours that Ronaldo was ready to leave the league where he reportedly became the best-paid player in football history with an annual salary of £177m when he joined.
Fifa president Gianni Infantino raised the prospect of Ronaldo joining a team involved in the Club World Cup after Al-Nassr failed to qualify for the extended tournament which is being held in the United States.
Ronaldo said he had received offers from participating teams but had turned them down.
The decision to stay until at least 2027, which is certain to be highly lucrative, appears to rule out any future prospect of Ronaldo returning to play at the highest level in Europe.

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