Inter owners Oaktree look to follow Man City and Chelsea example with satellite club
Quick summary
Inter Milan's owners Oaktree are exploring the creation of a satellite club, following the multi-club ownership model pioneered by Manchester City and Chelsea.
Full article
Attributed to original sourceOaktree are exploring the possibility of acquiring a second European club to place within Inter’s orbit.
According to reports from the Gazzetta dello Sport, via TuttoMercatoWeb , the American investment fund, which owns Inter, is reportedly examining clubs in four different countries as it considers creating a satellite operation to help develop and increase the value of Nerazzurri youngsters.
The preferred target would be a club playing in a first division, providing Inter players with an opportunity to gain regular experience abroad while remaining within the same wider ownership structure.
Portugal, Belgium, the Netherlands and Switzerland are the countries currently being monitored, with Oaktree still in the exploratory phase and yet to identify a specific club to acquire.
ROME, ITALY – MAY 13: (L-R) Dario Baccin, Assistant Sporting Director, Cristian Chivu, Head Coach, Giuseppe Marotta, President and CEO, Javier Zanetti, and Piero Ausilio, Sporting Director of FC Internazionale Milano, pose for a photo with the Coppa Italia trophy following the team’s victory in the Coppa Italia Final match between SS Lazio and FC Internazionale at Stadio Olimpico on May 13, 2026 in Rome, Italy. (Photo by Tullio M. Puglia/Getty Images) Inter look to follow City and Chelsea example in modern club ownership The project would represent a longer-term expansion of Oaktree’s presence in football, following a model already used by several major ownership groups.
Manchester City’s City Football Group, Red Bull and Chelsea have all built networks of clubs across different countries, while the Krause Group, owners of Parma , recently expanded into Portugal by acquiring Casa Pia.
Casa Pia’s position in Lisbon and status as a relatively small Primeira Liga club make it an example of the type of operation that could appeal to Inter and Oaktree.
PISA, ITALY – NOVEMBER 30: Giuseppe Marotta looks on prior to the Serie A match between Pisa SC and FC Internazionale at Arena Garibaldi on November 30, 2025 in Pisa, Italy. (Photo by Gabriele Maltinti/Getty Images) The report suggests Oaktree hope to identify the right opportunity and complete an acquisition during the current season, potentially making the new satellite club available to Inter from the summer 2027 transfer window.
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What happened
Oaktree Capital, the ownership group behind Inter Milan, is reportedly studying the satellite club model that has been implemented by Manchester City's City Football Group and Chelsea's BlueCo ownership structure. The approach involves acquiring or partnering with clubs in smaller markets to develop young talent and create synergies across the network. Oaktree took control of Inter after converting their loan to Steven Zhang's holding company. If pursued, the move would align Inter with a growing trend among elite European clubs seeking competitive and financial advantages through multi-club ownership.
Chance analysis
Oaktree's interest in a satellite club signals a shift toward a more corporate, portfolio-driven approach at Inter Milan. The City Football Group and BlueCo models have demonstrated how multi-club ownership can streamline player development pipelines and create new revenue streams. For Inter, this could mean improved pathways for young players, greater scouting reach, and stronger commercial positioning in an increasingly competitive ownership landscape across European football.
No immediate sporting impact; long-term implications for Inter's player development strategy and commercial positioning.