Italian journalist Maurizio Pistocchi claims the PIF are keeping tabs on Serie A giants Inter Milan and their crosstown rivals AC Milan.
The Saudi Public Investment Fund currently owns the majority shares in four of KSA’s most popular clubs (Al Nassr, Al Ittihad, Al Ahli and Al Hilal).
Their astronomical cash injection saw a host of top-notch footballers land in Saudi Arabia last summer.
The company also owns Premier League club Newcastle United.
But as Pistocchi reveals, the group is now looking to invest in Italian football.
The journalist claims that the PIF first attempted to buy Juventus from EXOR. However, the two parties couldn’t agree on the terms.
Therefore, the Saudis turned their focus toward the two Derby della Madonnina rivals.
“The Juventus owners negotiated with the PIF for the sale of a minority share, a negotiation which did not go beyond a letter of intent,” explains Pistocchi on his X account.
“The Arabs were not interested in a minority share. Moreover, The overall evaluation of the club from the ownership had been €2 billion, while the PIF valued the company at €1.4 billion.
“Having abandoned Juventus talks, today, Saudi Arabia’s sovereign fund is looking with interest at Inter and Milan.
“For Inter, the situation depends on the refinancing of the 275 million Oaktree bond expiring in February 2024.”
The PIF Could Be Looking To Buy Inter Milan Or AC Milan After Ending Juventus Talks
In 2021, Inter Milan owners Suning took a loan from Oaktree Group to cover operative expenses.
The Chinese company will have to either repay or refinance the loan before its deadline in May 2024.
This situation leaves Suning’s future at the club in jeopardy, opening the door for a potential sale.