The interest of Al Mirqab, the Qatari fund linked to Sheikh Hamad bin Jassim AlThani, in a minority stake in Inter seems to have dropped drastically. According to Tuttosport's sources, the negotiation between Oaktree, the club's current majority owner, and the Qatari fund stalled due to disagreements over the valuation of the minority shares that Oaktree was willing to sell. The economic distance between the two sides made a quick conclusion of the agreement unlikely, leaving open the possibility that negotiations would simply be suspended.
The initial plan envisaged that AlMirqab could enter as an investor without altering the existing balance of control. In practice, Oaktree would have sold a minority stake to the Qatari fund, while maintaining its dominant position. However, when it came time to define the economic value of the operation, the positions of Oaktree and the potential new partners differed considerably. This gap weakened the initial enthusiasm, making it difficult to imagine a rapid acceleration of the negotiation.
Despite the slowdown, Oaktree does not appear to be in a hurry to sell its stake. The fund considers Inter a strategic investment and has no obligation to conclude the agreement with AlMirqab to continue the corporate project. Even without the entry of a new shareholder, Oaktree will continue to support the company, which is chaired by Giuseppe Marotta, who also holds a stake. This position allows the fund to manage any future negotiations without the pressure of finding new investors at any cost.
The climate around the operation has changed compared to previous weeks, when the prospects of an agreement seemed more concrete. Today, sources indicate growing pessimism, above all due to the difficulty of finding a shared evaluation of the stake being negotiated. It is not excluded that contacts may resume in the future, but at the moment there are no elements emerging that suggest an imminent turning point.
Meanwhile, Inter continues to operate with Oaktree in charge and with no announced changes to the ownership structure. The dialogue with AlMirqab could reopen only if different economic conditions arise. For now, the Nerazzurri club remains on hold, with the prospect of possible Qatari investments still uncertain and the corporate future still to be defined.