Italian journalist Enzo Bucchioni has claimed that negotiations are underway between the Saudi Arabian Public Investment Fund and Suning over the sale of the club, according to a report in the Italian media.
As has been written by Enzo Bucchioni in TMW, according to rumours that he has heard, negotiations in Nanjing between Suning Group and the Saudi Arabian Public Investment Fund are already underway and by this point they will likely be at an advanced stage.
“The managerial optimism does not change the objective which is to sell and the sale should take place by 2022. Among the solutions there would always be that of a possible sale to the PIF, the sovereign fund of Saudi Arabia’s royals.
“According to rumours, the negotiations underway in Nanjing would be at an advanced point, they could even close and, above all, it would not be an insurmountable obstacle the fact that in the meantime PIF has already invested in Newcastle United in the Premier League.”
Enzo Bucchioni goes on to say that the PIF has probably made an offer of $1 billion for the club which is worth about €900 million. This is €100 million lower than what it is believed Suning want for the whole club.
“The sovereign fund PIF would in any case have already made a proposal for a dry one billion dollars, about 900 million euros, and there would be substantial consensus on this. The Chinese government would still have some hesitation, which, in fact, would not have yet authorized the last act of the sale to PIF.
“It is true that the economic relations between the two countries are excellent, but dealing with football is not always politically correct and in this delicate moment, China prefers to reflect further until when, as mentioned, the operation will not have a clear and downhill road.”
This block in negotiations is why there is also so much talk about various investors and business people in America who are being talked to by Suning about buying or increasing shares in the club.
“Precisely for these reasons, prudence would be advising Goldman Sachs to keep other tables open and in particular there would be offers from American funds and subjects.
“The proposal analyzed, the most concrete and closest to the required standards would be from the tycoon Daniel Straus who operates in the private health sector. At the same time, Goldman, if the sale were to delay any longer, would be taking steps to get Inter to obtain another loan from another economic entity.”