Italian journalist Maurizio Pistocchi has reported that the Saudi Public Investment Fund (PIF) is considering potential investments in Serie A clubs, particularly Inter Milan and AC Milan. The PIF currently owns the majority shares in several popular Saudi clubs, including Al Nassr, Al Ittihad, Al Ahli, and Al Hilal. Additionally, the fund holds ownership of Premier League club Newcastle United.
Pistocchi reveals that the PIF initially attempted to purchase Juventus from EXOR, but negotiations stalled over the terms. The Saudis were reportedly not interested in a minority share, and there was a discrepancy in the valuation of the club. After the Juventus talks fell through, the PIF is now said to be exploring opportunities with Inter Milan and AC Milan.
According to Pistocchi, the situation with Inter Milan is contingent on the refinancing of a €275 million Oaktree bond set to expire in February 2024. In 2021, Inter Milan owners Suning had secured a loan from the Oaktree Group to cover operational expenses. However, the Chinese company must either repay or refinance the loan before its deadline in May 2024.
The potential interest of the PIF in Italian football raises speculation about significant investments in Serie A, similar to the fund’s high-profile ownership of Newcastle United in the Premier League.
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