PIF ready to acquire Inter for €1 billion

PIF ready to acquire Inter for €1 billion

Saudi investment fund PIF is ready to acquire Inter Milan. They are ready to invest around €1 billion and want to buy the club from Suning. As reported by the Libero newspaper, the talks between Suning and the PIF are at an advanced stage. Suning are having financial problems for the past 2 years and they were looking to sell the club last year. But they got a €275m loan from Oaktree Capital and managed to keep the club. Also, the pandemic is under control now, but still, Suning are not in a better position. Hence they are looking to take the offer, according to reports.

The Saudi investment fund recently took majority stakes of a Premier League club, Newcastle United. And they feel that they are now ready for a bigger investment. They took around 80% of the shares of Newcastle as the Premier League finally agreed to complete the takeover. PIF were trying to buy them for some time but due to the restrictions they could not do it, and now, they want to take over Inter soon.

PIF is ready to acquire Inter but sources close to the club deny it

Steven Zhang and his family are looking to take the offer as they are in financial turmoil. Inter had to sell their key players like Hakimi and Lukaku last year to balance their books. According to the newspaper, the negotiations started last year but were soon stopped after the Super League announcement. But now, both the parties started the negotiation again and there was a meeting when Inter faced Real Madrid in the Champions League on September 15.

But, according to the La Repubblica reporter, Franco Vanni, sources that are close to the Nerazzurri are denying these reports. They are saying that there is nothing and that these rumours spreading just to push the Newcastle deal.

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