FC Inter Milan: Giuseppe Marotta, chief executive officer for sport, promoted to president

FC Inter Milan (Serie A TIM) have proposed the appointment of Giuseppe Marotta, the club's chief executive officer for sport since December 2018, as president, as well as a new composition of the board of directors, announced the club on 04/06/2024. Both decisions are to be approved at a shareholders’ meeting held in Milan (ITA) on the same day.

"Beppe" Marotta will succeed Steven Zhang (CHN), who was appointed as president in October 2018. These proposals come after Oaktree Capital Management, L.P became the owner of Inter Milan on 22/05/2024 following the non-repayment of the loan granted to the club's majority shareholder, the Chinese Suning group. The fund had granted a loan of €275m to Great Horizon Sarl, the Luxembourg-registered entity through which the Suning group operated the Italian club, on 20/05/2021. The loan, the outstanding balance of which is around €395m, was due to mature on 21/05/2024.

"The new board brings together expertise from across Italy and Europe, including the Oaktree team who have partnered with the club since 2021. The new board members will provide…