Inter Milan were taken over by US fund Oaktree on Wednesday after the Serie A champions’ outgoing owners Suning missed a deadline to repay a debt worth hundred of millions of euros.

In a statement, Oaktree announced they had “assumed control” of Inter after the non-repayment of a “three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately 395 million euros ($428 million)”.

Chinese conglomerate Suning have relinquished control of Inter to Oaktree three days after the team were officially crowned Italian champions for the 20th time.

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, putting up their controlling stake in the club as collateral.

“Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the Club and its stakeholders,” Oaktree continued.

Inter became a powerful force at home and abroad after Suning acquired the club in 2016, with seven trophies including two Serie A titles and two European finals.

Simone Inzaghi’s team cruised to this year’s championship, winning the Scudetto with five matches remaining by beating AC Milan in a thrilling local derby.

Oaktree, which manages $192 billion in assets, said they are “committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch”.

Inter ended up in the hands of Oaktree in a manner similar to the way another US fund, Elliott Management, took control of their local rivals 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.

Real Madrid produced a spectacular comeback against Bayern Munich to reach the Champions League final with Joselu striking twice late on, earning them a 2-1 win on Wednesday to progress 4-3 on aggregate.

Alphonso Davies smashed the visiting German giants ahead in the second half but record 14-time winners Madrid produced a sensational comeback with Joselu netting in the 88th and 91st minutes.

 Bayern Munich’s Canadian midfielder #19 Alphonso Davies scores his team’s first goal in spite of Real Madrid’s Ukrainian goalkeeper #13 Andriy Lunin during the UEFA Champions League semi final second leg football match between Real Madrid CF and FC Bayern Munich at the Santiago Bernabeu stadium in Madrid on May 8, 2024. (Photo by OSCAR DEL POZO / AFP)

Spanish champions Real Madrid face another German side, Borussia Dortmund, in the Wembley final on June 1, after they stunned the team they call their “black beast”.

Squad player Joselu, on as a late substitute, wrote his name in Madrid’s history books with his last-gasp brace.

Bayern Munich’s English forward #09 Harry Kane reacts to their defeat after the UEFA Champions League semi final second leg football match between Real Madrid CF and FC Bayern Munich at the Santiago Bernabeu stadium in Madrid on May 8, 2024. (Photo by JAVIER SORIANO / AFP)

“There have been a lot of times we have looked dead and buried, but we have that mentality of never say die,” said Real midfielder Jude Bellingham.

“Joselu deserves it all, he has been an amazing squad member this season.”

Madrid had enjoyed the better of the match but it seemed Davies’ superb strike had set up a repeat of the 2013 all-German final in London.

Bayern coach Thomas Tuchel made three changes from the first leg, benching veteran Thomas Mueller and Leon Goretzka.

Dani Carvajal started for Madrid after missing the first leg suspended and was heavily involved as the hosts dominated the opening stages.

Real Madrid players celebrate their second goal scored by Real Madrid’s Spanish forward #14 Joselu during the UEFA Champions League semi final second leg football match between Real Madrid CF and FC Bayern Munich at the Santiago Bernabeu stadium in Madrid on May 8, 2024. (Photo by JAVIER SORIANO / AFP)

Rodrygo Goes was inches away from converting Carvajal’s low cross and the Spain defender then cleverly set up Vinicius Junior with a pass nutmegging a defender, and Manuel Neuer tipped the Brazilian’s shot against the post.

The rebound fell to Rodrygo but his effort was weak and with a desperate arm Neuer was able to claw it out to complete a fine double save.

Bayern’s Serge Gnabry limped off injured with Davies replacing him before Harry Kane’s first flash of danger.

Madrid goalkeeper Andriy Lunin was alert to push the England captain’s vicious long-range volley around the post.

Neuer palmed away a Vinicius free-kick as the teams ended a high-intensity, relentlessly frantic first half level.

The second period was just as fraught, with Davies’ cross deflecting onto the roof of Lunin’s goal.

Vinicius was unplayable down Madrid’s left and Rodrygo prodded his low cross agonisingly wide of the far post.

The 38-year-old Neuer made superb saves to deny both Brazilian forwards again before the hour mark as Madrid controlled the game and ratcheted up the pressure.

However just as in Munich, when Los Blancos were at their strongest, Bayern pounced.

Kane fed Davies and the Canada international cut inside from the left and smashed a shot beyond Lunin into the far top corner after 68 minutes.

Madrid thought they had levelled moments later through Nacho but after a VAR review the strike was ruled out as the defender had grabbed Joshua Kimmich’s face before shooting.

Tuchel took off Kane in the final stages to try and hold on to victory but it slipped through his fingers as Madrid produced more indelible European memories.

Neuer, who had been sublime to this point, fumbled what appeared a simple Vinicius strike and Joselu gratefully bundled home from close range.

With Bayern reeling Madrid struck again, decisively. It was Joselu once more, the striker on loan from second division side Espanyol, turning home after Antonio Rudiger cut the ball back to him.

The goal was ruled offside but officials overturned the decision after review, and after nearly 15 minutes of stoppage time, Madrid earned the chance to go for their 15th Champions League trophy.

Victor Osimhen has been named the 2023 African Footballer of the Year, cementing his status as one of the world’s top players.

Osimhen surpassed competition from Morocco’s Achraf Hakimi and Egyptian forward Mohamed Salah for the prestigious award.

The Super Eagles forward concluded a remarkable year in the imperial Moroccan city of Marakesh, ending Nigeria’s 24-year wait for Africa’s top individual prize, last won by legendary Kanu Nwankwo in 1999.

During the event, Osimhen expressed gratitude, acknowledging the impact of Nigerian legend Emmanuel Amuneke, who coached him at the U-17 level, and the support from fans and fellow players.

“It’s a dream come true for me. I want to thank everyone who has seen me through life’s journey, in achieving my dreams and goals. I appreciate Nigerians and Africa for their unwavering support and encouragement,” he said.

Osimhen recognised the influence of Emmanuel Adebayo, Solomon Kalu, and other African legends, expressing gratitude to his role model, Didier Drogba.

The award reflects Osimhen’s outstanding performances with Napoli, where he played a pivotal role in their Serie A title run, scoring 26 league goals and becoming the first African to win the top scorer award, breaking George Weah’s record in the Italian top-flight.”