Saudi Arabia’s PIF shifts to Inter Milan after ending Newcastle interest
Saudi Arabia’s Public Investment Fund (PIF) is ready to go all-in for Inter Milan.
La Repubblica reports PIF has ended all interest in buying Newcastle United and is entering takeover negotiations for Inter Milan with owners Suning.
PIF was denied an original deal for Newcastle by local authorities and are now turning their focus to Inter and Italian football.
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For Suning, the PIF approach would be preferred to BC Partners because it would be an investment for 30 percent of the club.
This allows Suning to keep control of Inter, with an agreement in place should the Saudis want to increase their share at a later date.