Saudi sovereign wealth fund PIF will not buy Inter from Suning according to a report in Italian media.
This from the online edition of Milan-based newspaper Corriere della Sera, who report that the PIF had an interest in attempting to buy the club but that this is no longer a viable option on the table for them.
The PIF had been serious in their interest in buying Inter, but in the meantime they have instead turned their attention to Premier League club Newcastle United which they deemed more viable to purchase.
The Nerazzurri carry a significant budget deficit, having closed last year €245.6 in the red, and given this situation the PIF considered the demand of €1 billion to buy the club to be excessive.
Moreover, the situation with the San Siro is also problematic, given that the approval has yet to be found for the proposed new stadium which would be a priority for the PIF and would have to be built in cooperation with AC Milan and through the cooperation of Milan Mayor Beppe Sala and the City Council.
For these reasons, the Corriere’s report posits that the PIF would be unlikely to buy the club, despite the fact that Suning’s ownership also appears to be precarious given their financial situation.