Saudi Arabia’s Public Investment Fund (PIF) is not interested in buying Inter from Suning, according to a leading British journalist.
Sports writer Ben Jacobs provided an update today on the Nerazzurri’s ongoing ownership saga, which has seen the club linked with numerous parties over recent weeks.
PIF are only discussing a minority stake at Inter, Jacobs explained on Twitter, offering Suning a way to offset debt and gain added exposure the Middle East and North Africa.
Their offer is different to that of BC Partners and Fortress, albeit he did not specify how exactly.
Suning remain undecided on whether they want to stay in control at Inter, with ‘a better financial footing’, or whether they wish to sell outright.
While €800 million is being touted as a possible sale price, Suning actually value the club closer to €1 billion.
PIF’s interest for Inter is ‘genuine’ but Suning are reportedly making sure it’s known in the public in order to drive up other bids for the club.
Newcastle United remain hopeful of welcoming PIF as their new owners but their fate is directly linked to what happens at Inter.
Suning clarifying whether their preference is to sell or stay would ‘define the next steps’, Jacobs continued, but it seems PIF are not interested in taking control of Inter.
The fund is ‘opportunistic’ but Inter have a high price and lots of debt, which it seems might be putting them off.