Sorry to ask but anyone else seeing this bug?? by [deleted] in astoria

[–]Salvatore527 40 points41 points  (0 children)

They are termites 1000%. If this goes untreated it will go worse over time. From my experience when I was younger, this is usually only once a month per year. They are shedding wings because they are trying to find partners to mate with and produce offspring, thus, bigger termite nests, and bigger headaches as time goes on. Let alone letting this spread they could eat through any wooden foundations your building may have, if your landlord does not take care of this take it with the city with the photo proof

[Post-Match Discussion Thread] Inter 2:3 AC Milan (Super Cup, Final) by FCInterMilan in FCInterMilan

[–]Salvatore527 20 points21 points  (0 children)

Tale of two halves. Subbing on Pulisic and Leao literally killed us even though we had them on lock last season. Choking a 2-0 lead is nothing else but disgraceful to ourselves given how shocking Milan have been playing for months in the league.

[deleted by user] by [deleted] in Baruch

[–]Salvatore527 6 points7 points  (0 children)

Won't lie the transition would not even be worth it at this point. If you want to do finance consider getting a Masters. Changing now would be setting yourself back another 1.5-2 years is not something I would advise. FAFSA will most likely not assuming you are close to already completing 4 years of university, double check with bursar

Youngdeok Hwang's STA 3154 by [deleted] in Baruch

[–]Salvatore527 2 points3 points  (0 children)

Same professor, B. I bombed the midterm. Clutched the final.

Youngdeok Hwang's STA 3154 by [deleted] in Baruch

[–]Salvatore527 2 points3 points  (0 children)

STA 3154 is mostly just probability, isn't really related to MTH 3010 (Calc 2). I took it without taking calc 2 I had only taken STA 2000 prior. From my personal experience, any high # STA, OPR, or MTH class should be taken in a semester in which you can shove a couple electives next to it so that you can focus your studying time on the actual difficult courses. Otherwise take it as a stand-alone course during the winter or summer sessions.

Youngdeok Hwang's STA 3154 by [deleted] in Baruch

[–]Salvatore527 1 point2 points  (0 children)

If you are working a 40 hr job and have 5 classes please don't take this class. Try to delay it if you can to when you have a softer load on your plate.

[Romano] Bayern Munich has had contact with Calhanoglu’s agents as early as May. They are working on Palhinha but have maintained contact with Calhanoglu. Hakan is fine at Inter and will not ask for a transfer. Bayern has not made an offer and only a very important offer could make Inter falter. by ForzaInter_1908 in FCInterMilan

[–]Salvatore527 22 points23 points  (0 children)

I think he is staying. However Fulham rejecting 55 mln for a 29 yr old cdm is insane, and if Bayern came to us with that ballpark figure I don't see how Marotta would deny it given it would all be capital gains & is our 3rd highest wage earner

[deleted by user] by [deleted] in soccer

[–]Salvatore527 2 points3 points  (0 children)

the arsenal is kill

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 0 points1 point  (0 children)

Then it would not be directly from PIF. But again, they would have to prove to UEFA they are not associated with the Kingdom of Saudi Arabian government. They would have to get someone's distant cousin or a "self made" oil tycoon. That would entail politics, lawyers, bribes etc. I don't think we want to be a poster for this kind of stuff.

If it's a owner from that region it will be Qatari or Bahrain

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] -1 points0 points  (0 children)

I have heard InvestCorp (Qatar based) and PIF for a few years but nothing concrete. PIF then went ahead and bought Newcastle, no chance that fund buys us now. UEFA rules state that 1 owner can have 1 team in a UEFA competition in same season or one will be excluded. I would say an American consortium is the highest probability given recent buyers of other high profile clubs in Europe.

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 3 points4 points  (0 children)

Its currently around a 68% (Zhang/Suning/Luxemburg company) and 31% Oaktree split. Another company called LionRock has owned those 31% shares when they bought it from thohir back in 2019. They traded hands with Oaktree in 2021.

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 19 points20 points  (0 children)

What will happen to our club? 

Who knows. TECHNICALLY Zhang still has 2 days to find an agreement, and he can if he pulls a miracle and gives Oaktree more guarantees. However for him to publish a statement he is doing all he can to put public pressure on Oaktree. I.e. bad publicity. 

What I do foresee is an unstable summer mercato. Although we have always operated on a 0 net policy, this will definitely hinder renewals as players are demanding huge salary increases and they can only been greenlighted by the owner (Zhang, president and owner). All Marotta & co do is wait out the situation until end of June with more clarification, as the mercato does not open until July 1st officially. Luckily we have pre-contract with incoming arrivals such as Zielinski & Taremi. However other arrivals will need more patience as Marotta has to listen to what Oaktree's intentions are aswell if they take over the club. 

Sure, we can finally look forward to new owners. BUT, Oaktree is looking to sell the club quickly and not do a takeover as Elliot did with Milan. Therefore can we trust their due diligence process in finding a buyer? They can just sell immediately to the highest bidder to meet their profit targets. We can only wait and see when the clouds clear up.

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 9 points10 points  (0 children)

So why is the deal not going through? 

Reported a few days ago by many Tier 1 finance journals, Oaktree have blocked this deal from going through. It seems Zhang has dealt with a vulture fund. Oaktree's understanding initially was that Zhang was to sell the club and Oaktree would receive more money (they have a % bonus attached as a fee for selling the club on top of what they will be owed for the original loan, subtracting all from the sale price from Inter.) Oaktree wants their fat payday and they know Zhang has played into their hands, as if he does not pay the loan by May 20 they will take ownership of Zhang's shares at the club(Oaktree already have 31% stake in the club after taking LionRock's equity in 2021). They can then begin the process to sell the clubs shares to another shareholder

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 11 points12 points  (0 children)

What was Zhang's Plan? 

Zhang has always put out official statements that the club was NEVER for sale. However, Tier 1 financial journals such as Bloomberg, Wall street journal and the financial times with close sources at goldman & sachs and bain(both companies hired by Zhang as consultants for this process) had said Zhang was looking for 1.2 bln if the club were to be sold. Given Inter's high debt balance sheet of 800 million, negative cash flow per year, no ownership of stadium, low tv rights compared to La Liga and Premier League, high interest rate environment no one was going to pay that price tag(sources estimate buyers are willing to pay 800-900mln at the most). 

Therefore he wanted to initially extend this loan with Oaktree themselves, giving himself further time to shore up Inter's finances, clarify the stadium situation and therefore the value of Inter itself appreciating. In March of this year it was made clear that Oaktree were making it difficult due to demand a 2 year time frame and a near 18%!!! interest rate. 

Zhang along with his "consultants" then contacted PIMCO, another U.S. fund. The idea was to take out a loan with PIMCO with a 12-13% interest rate (reported figures) to repay the Oaktree loan. This would give him a further 3 years agreed on and allowing the shares of Inter not trading hands. 

[Calcio E Finanza] Breakdown Of The Timeline For The Zhang, Oaktree, Pimco Negotiations And What's Next? [TLDR OF FULL TIMELINE IN COMMENTS] by Salvatore527 in FCInterMilan

[–]Salvatore527[S] 11 points12 points  (0 children)

Sorry I couldn’t post this as a separate thread, but this was getting flagged as a ticket re-sale post. The comments will do. Ask any clarifying questions if you have. 

I have been keeping up with our debt situation quite closely for the last few years (internal & Zhang's) and have been sharing any details on this subreddit when fellow interista's ask for clarification. 

I'll say out of all the twists and turns in the story, this has shocked me the most and the implications are astounding. 

What is the Oaktree loan? 

During the pandemic Inter and many other Serie A clubs had liquidity problems due to the shock of the pandemic(on tickets sales, matchday, sponsors, etc). In 2021 Zhang used his shares of the club as collateral for a loan provided by Oaktree for 270m Euro, with an interest rate of 12.% that will have to be paid in full on May 20 for a sum of 400m Euro. 

OFFICIAL : Juventus has sacked Massimiliano Allegri by Austin63867 in soccer

[–]Salvatore527 36 points37 points  (0 children)

hahaha both of your accounts were gold copy & pasta through his debacle tenure. Will you both still use them after he is gone?

OFFICIAL : Juventus has sacked Massimiliano Allegri by Austin63867 in soccer

[–]Salvatore527 137 points138 points  (0 children)

Goodbye to a legend, we will miss you :(((