Due diligence is underway by a Middle Eastern fund on a potential takeover of Inter Milan from current owners Suning.

This according to today’s print edition of Turin-based newspaper Tuttosport, via FCInterNews. The newspaper report that the valuation of the potential sale would be around €1.3 billion, with the interested fund being either InvestCorp or Mubadala.

In recent days, reports have suggested that there is fresh interest in a possible purchase of Inter.

The name of InvestCorp has once again come up.

And yesterday, the Bahrain-based fund responded to the rumours linking them with a takeover of the Nerazzurri. They stated that they “can neither confirm nor deny” interest.

Meanwhile, Emirati fund Mubadala is another possible candidate.

Tuttosport name the two Middle Eastern funds as the likely subject of the reports of serious interest in buying Inter.

Due Diligence Now Well Underway On Potential Inter Takeover

According to Tuttosport, the interest from a Middle Eastern fund in taking over Inter is already at a serious stage.

The newspaper reports that there has been a process of due diligence underway for a number of weeks now.

The fund – either InvestCorp or Mubadala – have been studying the conditions for a sale. They have been in contact with Raine Group, the same investment bank that facilitated the takeover of Chelsea by a consortium led by American businessman Todd Boehly.

Tuttosport note that the potential offer from the fund to Suning would be for around €1.3 billion.

This would, theoretically, be enough to meet Suning’s demands.

The current Inter owners have so far rejected all bids because they have held out for a higher offer. Suning reportedly want no less than €1 billion.

The €1.2 billion sale of AC Milan from Elliott Management to RedBird capital has been the benchmark in this respect.

And with revenues from the Champions League, the expanded Club World Cup, and also a potential new stadium to consider, the Middle Eastern fund is reportedly prepared to even exceed that figure in their offer as they value the Nerazzurri highly as an asset.