Football

Saudi Investment Fund eyeing Inter Milan takeover

Several reports confirm the Public Investment Fund of Saudi Arabia is considering the purchase of assets in the current Serie A leaders.

Saudi Investment Fund eyeing Inter Milan takeover
MASSIMO PINCA REUTERS

According to several media reports in Italy, the Public Investment Fund of Saudi Arabia (PIF) has shown an interest in purchasing assets in Serie A club Inter Milan with negotiations between the two parties currently in progress.

According to La Gazzetta Dello Sport, the current majority shareholders in Inter, Suning Holdings Group, are open to sell minority or majority interests based on the offers they receive.

The Italian news outlet also reported that Saudi Emir Mohamed Bin Salman is interested in acquiring a share in the Nerazzurri through the Saudi Investment Fund after British BC Partners had initially made a move to acquire a major interest but failed to reach an agreement with Inter's owners, who value the club at around €1 billion.

Saudi PIF to stake claim in Inter Milan

Another source, Corriere dello Sport, revealed that Saudi PIF are interested in taking over at Inter and are now leading the race after presenting an offer. Yasir Al-Rumayyan, who manages the PIF’s $347 billion portfolio of around 200 interests, is believed to be leading the negotiations with Suning representatives.

Furthermore, La Repubblica journalist Franco Vanni confirmed the news on Twitter when he was asked by a Nerazzurri fan whether the reoprts of a potential Saudi interest were accurate. "Yes, the interest is real, and it has been for a while," Vanni replied.

Inter Milan are now leading the Serie A standings with 56 points, three points clear of their historic rivals AC Milan in the Scudetto race.