Saudi Arabia entered the race to acquire Inter Milan shares | sport


Italian press reports revealed, today, Wednesday, that the Saudi Public Investment Fund has entered the race to acquire shares of Inter Milan, the Italian soccer league leader.
The British fund BC Partners was the first to express an interest in acquiring a majority stake in Inter Milan, but it has not yet reached an agreement with the Chinese company Suning, which owns Inter.
According to reports, the company estimates the club’s shares to be worth one billion euros.
Suning is living through difficult times, following the Corona pandemic, in light of the new restrictions imposed by the Chinese government on investment in football, which finally prompted it to stop the activity of the Chinese Jiangsu team, which also owns it.
According to the “Futbol Italia” website, quoting La Gazzetta dello Sport, the Saudi Public Investment Fund is competing with more than one company to get the largest share in Inter club shares, and is the closest to settling the deal after it showed great interest.
The site also indicated that there are new funds ready to discuss the possible acquisition of the club, among them the American investment management company Fortress, which made an initial attempt to acquire a majority stake in Inter, and a Qatari fund also expressed a desire to buy the club.
It is noteworthy that the Saudi Investment Fund was close to acquiring English club Newcastle United, with a deal estimated at 300 million pounds, before it decided to withdraw due to the delay in the Premier League in settling the deal.
Inter Milan ranks first in the Italian league, 4 points ahead of their chase and neighbor Milan, and is a strong candidate for the title and stopping Juventus’ streak that lasted for 9 seasons.
Source: Agencies


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