Football journalist Ben Jacobs has explained the current situation around Inter’s chances of being purchased by Saudi Arabian owners, according to a report on social media.
In a Twitter thread, Ben Jacobs explained that he has been asked by a lot of people for some clarity on the situation. The talks apparently first broke down between PIF and Suning due to their €1 billion valuation.
“Talks between Suning and PIF are not new. When they first started, PIF’s original intent was minority investment and the parties have since spoken several times. PIF were put off by Suning’s €1bn valuation and the asking price hasn’t altered.”
Serie A is apparently still of extreme interest to PIF and that is shown by their intent to stage the Italian Supercoppa final which will be played in Saudi Arabia between Inter and Juventus this year. They can see there is potential for growth in Italy.
“Serie A is of huge appeal to PIF. And Saudi has hosted the Italian Super Cup. The long-term rights are up for grabs, too. But I am told a sale is still by no means certain and talks are not particularly advanced or focused.”
Some issues stopped Suning and Inter from progressing too far in their talks in the past, and those issues are still in existence. Steven Zhang is reluctant to sell and Inter are a club with a lot of debt that PIF would have to take on.
“The same hurdles that stopped progress before remain. Price, Zhang’s reluctance to sell and Inter’s debt. The parties are talking again, though. Suning really needed the ESL money and without it could be softened to sell.”
Lots asking me about PIF and Inter.
Talks between Suning and PIF are not new. When they first started, PIF’s original intent was minority investment and the parties have since spoken several times. PIF were put off by Suning’s 1bn valuation and the asking price hasn’t altered.
— Ben Jacobs (@JacobsBen) October 13, 2021