The Saudi owners of Newcastle United are thought to be in negotiations with Inter Milan. Newcastle United’s owners are thought to be in talks with Inter Milan about a huge purchase.
According to Italian media, Saudi Arabia’s Public Investment Fund is now negotiating a commercial agreement with the Serie A club. Despite rumors that PIF is interested in taking over the Italian club, Tuttosport, a Turin-based tabloid, reports that Newcastle United’s owners are not currently looking for such a deal.
However, this agreement would extend the sovereign fund’s huge commercial push across European football–and it would not be its first in Serie A or the Champions League.
PIF took acquired Newcastle United in 2021, holding 80% of the Premier League club, and has subsequently pushed for other investments across the athletic globe.
This season, PIF-owned Riyadh Season became Roma’s front-of-shirt sponsor in a $8 million-per-year deal. Riyadh Air, an investment fund-owned airline, has also become Atletico Madrid’s major jersey sponsor this season.
The surge of investments has fueled speculation about the Magpies’ majority owners’ ambition to acquire another European football club and establish a multi-team model.
Newcastle co-owner Amanda Staveley, who owns 10% of the team, stated earlier this year that they were exploring purchasing another club.
“We’re looking at everything in terms of how we grow our brand, our club,” he said. “Opportunities to acquire players at a reasonable price early in the cycle are critical to our growth.” We’re concentrating our efforts on the academy and developing young players. We’re bringing in some new faces.
“Of course, we looked at multi-club, but whenever you look at multi-club, you have to make sure you’ve got the right fit with the changes around GBE points right now.” It’s critical to do so.
“You must also carefully select your territory and ensure that you have the right chemistry.” Remember that you’re working with a different fanbase and a different locale. It is vital that you define your objectives. It’s difficult.
“We’re also looking into another structure that would allow us to do both, possibly something that would allow us to work with a lot more clubs.” That is only a very early stage. I believe that anyone considering to buy a club will consider the multi-club approach.”
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