Saudi firm PIF in for Newcastle United and Inter?
The Saudi investment fund PIF is not only in advanced talks for a takeover of Newcastle United, but also reportedly working on purchasing Inter from Suning.
The takeover of Newcastle had been blocked by the Premier League because PIF is an investment fund, but also essentially part of the Saudi state.
That was only allowed to go through after BeIN Sport and the Saudis decided to shelve their legal battle over piracy and TV rights.
That takeover is worth £300m, but it’s not the only massive investment that PIF could be making in football.
Numerous reports over the last few months have suggested PIF are also checking the paperwork of Serie A side Inter, trying to calculate a figure to offer current owners Suning.
Although selling Romelu Lukaku and Achraf Hakimi helped balance the books a little, Inter are still running at enormous losses and many expect Suning to sell at least some of the club’s shares.
According to Calciomercato.com, PIF first want assurances the new stadium project has the go-ahead before they are prepared to complete the takeover of Inter.
Milan are rushing it through following the re-election of Mayor of Milan Giuseppe Sala, but Inter’s financial uncertainty could prove a hindrance.
Il fondo arabo #Pif contatta #Zhang, ma prima di vendere l’#Inter vuole l’ok per lo stadio. Ecco l’intrigo con il #Milan e #Sala https://t.co/ncHFlDwArc pic.twitter.com/bcSXwSVidk
— calciomercato.com (@cmdotcom) October 7, 2021