According to Italian journalist Maurizio Pistocchi, the PIF is monitoring AC Milan, a rival team located across town, and Serie A powerhouse Inter Milan.
Four of the most well-liked clubs in the Kingdom are currently owned by the Saudi Public Investment Fund (Al Nassr, Al Ittihad, Al Ahli, and Al Hilal).
Last summer, Saudi Arabia welcomed a number of elite football players due to their massive financial infusion.
Newcastle United, a Premier League team, is also owned by the corporation.
But Pistocchi discloses that the group is currently considering making an investment in Italian football.
According to the writer, the PIF made an initial effort to purchase Juventus from EXOR. The two parties were unable to agree on the conditions, nevertheless.
The Saudis, then, shifted their attention to their two adversaries in the Derby della Madonnina.
According to Pistocchi’s X account, “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.”
Arabs have no interest in holding a minority stake. Furthermore, the PIF valued the corporation at €1.4 billion, whilst the ownership valued the club at €2 billion total.
After giving up on negotiations with Juventus, Saudi Arabia’s sovereign fund is now considering Milan and Inter.
“The scenario for Inter is contingent upon the refinancing of the 275 million Oaktree bond, which is set to mature in February 2024.”
The PIF May Be Considering Purchasing AC Milan Or Inter Milan Following the Termination of Negotiations with Juventus
Suning, the owners of Inter Milan, borrowed money from Oaktree Group in 2021 to pay for operating costs.
Prior to the loan’s expiration in May 2024, the Chinese corporation will have to either refund the debt or refinance it.
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