Suning could cede control of the club if they do not make good on their debt and Zhang, who has not been to Italy for months and lost a court case with China Construction Bank over personal debts of 320 million euros, claimed that Oaktree had been actively obstructing negotiations.

“We have been making every attempt with our partner to find an amicable resolution, including multiple paths for Oaktree to achieve full and immediate financial return,” Zhang said.

“Unfortunately, our efforts to date have been exasperated by legal threats, and a lack of meaningful engagement from Oaktree. Not only has this been deeply frustrating and disappointing, such behaviour now poses potential risks to the club that could seriously jeopardise its stability.”

An emergency loan of 275 million euros was agreed with Oaktree three years ago as the Covid-19 pandemic ravaged the finances of clubs across Europe, said Zhang, “in order to continue our support towards Inter after over a billion of investment”.

Inter posted losses of 85 million euros in 2022-23, following even heavier losses of 140 million euros and 245.6 million euros in the previous two seasons as stadiums were partially or fully closed because of the pandemic.

Suning had been reportedly close to agreeing a deal to borrow more money, some 430 million euros from Pimco, another US fund, with which Oaktree were to be paid off and a series of contract renewals agreed.

Those include captain and Serie A’s leading scorer Lautaro Martinez, Italy midfielder Nicolo Barella and Inzaghi, who is set to extend his current deal by two years to 2027.

However, that three-year loan, which would have had even higher interest than the 12.5 per cent negotiated with Oaktree, is looking much less likely to be sealed than it did early last week.

And the source said that “there has not been a single document that has been exchanged that would see that there was a credible buyer or refinancing partner” for Inter.

The source added that it was “unlikely” that Inter would be able to fulfil its obligation to Oaktree before the Tuesday deadline.

As a result, Inter are increasingly likely to end up in the hands of Oaktree in a similar way to how another US fund, Elliott Management, took control of their local rivals AC 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.

Inter’s sporting CEO Giuseppe Marotta put a brave face on the situation when speaking to broadcaster DAZN prematch, saying that the club were in a “solid” position.

But a banner in the stands read “Thanks Steven”, for president Zhang, suggesting that fans have little faith in Suning staying on as owners.

Inzaghi told DAZN: “The only thing I can do is thank Steven Zhang, he’s been a great president who has always been behind me and helped me.

“I can only thank him for the organisation that I’ve found myself with at Inter over the past three years.”

Inter have won seven trophies, including two Serie A titles, and reached two European finals since Suning acquired the club in 2016.