Football finance expert Carlo Festa feels private equity owners are “not suitable club owners” and hopes Inter Milan and AC Milan are sold.
The Il Sole 24 Ore journalist gave his thoughts in a tweet, hitting out at the model that North American funds have brought to both Derby della Madonnina rivals.
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Inter Milan and AC Milan both have North American owners.
I fondi di private equity non sono modelli di investimento adatti al calcio. Si adattano ad altri settori, generatori di cassa, ma non al calcio. Milan e Inter devono sperare di essere cedute a proprietà imprenditoriali con piani di crescita chiari. — carlo festa (@carlopaolofesta) August 24, 2025
The Rossoneri have been under the ownership of RedBird capital for several years. Prior to that, they had been own by Elliott Management.
Meanwhile, last year Oaktree Capital took over Inter from Chinese company Suning after the previous owners had defaulted from a sizable loan.
This summer has been the first for the Nerazzurri where Oaktree have really been in fully control.
And there has been a very clear change in strategy in comparison to that of the last few years.
Oaktree have been more than happy to invest money in the transfer market. They have sanctioned four notable signings already this summer, and the feeling is that one or two more will also arrive.
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That is after several years in which Inter have had to sell big name players and spend little replacing them.
Festa: “Private Equity Funds Aren’t Suitable Club Owners, Hope Inter & AC Milan Are Sold”
MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale Alessandro Antonello, Oaktree’s Global Opportunities strategy Managing Director Katherine Ralph, is. He is. It is. It was. That would be. It will be. It is. He is. Therefore it is. Managing Director and Co-Head of Europe for Oaktree’s Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club’s Management on May 22, 2024 in Milan, Italy. (Photo by Guido De Bortoli/Getty Images)
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However, Oaktree have mandated that Inter go after young players with room to grow.
In previous years, the Nerazzurri have succeeded by signing veterans like Edin Dzeko, Henrikh Mkhitaryan, and Francesco Acerbi.
In the meantime, Inter’s city rivals Milan have enjoyed comparatively less success. All while the Rossoneri have themselves focused on investing in younger names.
Italian football finance expert Festa argues that “Private equity funds are not suitable models for investing in football clubs.”
“They’re suitable for success in other sectors,” he continues. “Generating profits. But not in football.”
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“Milan and Inter will have to hope that they’re sold to owners who have a clear plan for them to grow,” Festa concludes.