PIF Not Backing Saudi Royal Family In Possible Inter Milan Takeover Bid – Saudis Seeking Private Investment

The PIF sovereign wealth fund are not going to back the Saudi royal family in any prospective bid to buy Inter Milan from Suning.

This according to Rome-based newspaper La Repubblica. The newspaper anticipate that any cash for a takeover bid for the Nerazzurri would instead come from private investment.

Earlier today, reports emerged that the Saudi royal family is interested in purchasing Inter from current owners Suning.

This is not the first time that there have been rumours of Saudi interest in the Nerazzurri.

However, this time around there is a key difference.

The last time that there had been reports linking Inter with a possible Saudi takeover, they concerned the Public Investment Fund.

That is the sovereign wealth fund of the Saudi state.

The PIF are currently in control of Premier League club Newcastle United. They completed a takeover of the Magpies during the fall of 2021.

And rumours had swirled not long after that the PIF were also setting their sights on a Serie A club. By far the strongest and most persistent rumours concerned reported interest in Inter.

PIF Not Backing Potential Saudi Takeover Of Inter

This time around, however, there is no involvement from the PIF, reports La Repubblica.

On the contrary, the newspaper reports, the PIF are changing their strategy when it comes to investment in football.

This also follows a couple of transfer windows of heavy investment in the Saudi Pro League, which had been largely bankrolled by the PIF.

But according to La Repubblica, the PIF would have little intention of backing a takeover of Inter.

Therefore, the Saudi royal family who are interested in potentially taking over the Nerazzurri are looking to private investment.

In the meantime, La Repubblica report, there is still an initial study of Inter’s finances by representatives of the Saudi royal family.

They are currently studying the Nerazzurri’s accounts and financial statements.

These would be preparatory for the phase of actual due diligence.

Therefore, the interest from the Saudi royal family in taking over at Inter remains in a very early phase, despite the reports that there are concrete negotiations.