Suning are negotiating an extension of the deadline of their loan from Oaktree capital as Saudi interest in buying Inter Milan emerges.
This according to today’s print edition of Rome-based newspaper La Repubblica, via FCInterNews.
Reports today have linked the Saudi royal family with a serious interest in buying Inter from Suning.
This would be distinct from the Saudi Public Investment Fund.
The PIF had been linked with an interest in buying Inter a few years ago. However, they are current owners of Premier League club Newcastle United, and have little interest in acquiring another European club.
But that doesn’t mean that there couldn’t still be a takeover of the Nerazzurri from within Saudi Arabia.
La Repubblica report that there are ongoing negotiations between representatives of the Saudi royal family and current Inter owners Suning.
Suning Negotiate With Oaktree Amid Saudi Interest In Buying Inter
La Repubblica note that the timing of the expiration of the deadline on Suning’s loan from Oaktree – the twentieth of next month – looks to be a very salient factor.
The Inter owners can hardly complete a sale of Inter before then.
The prospective Saudi buyers are still completing their due diligence. They have yet to make a formal offer.
Therefore, Suning would have to agree an extension of the deadline with Oaktree if they are to sell Inter.
But according to La Repubblica, that is exactly what the Inter owners are aiming to do.
If Suning can agree a short-term extension with Oaktree, that would buy them some time.
Then, the Nerazzurri owners could complete the negotiations with the Saudi contingent at a more relaxed pace, and with more leverage.
Alternatively, Suning could also negotiate with other prospective buyers.
However, La Repubblica report, an extension would not entail Suning staying on for the long haul.
