NUFC handed potential takeover blow as PIF register interest in Italian giants – originally posted on Sportslens.com
According to La Gazzetta dello Sport (via Football-Italia), Saudi Arabia’s Prince Mohammad bin Salman is interested in Inter Milan and would be open to acquiring a minority stake in the club through the Kingdom’s Public Investment Fund.
The PIF were close to sealing a £300 million takeover of Newcastle United last year, but they pulled out of the deal after getting frustrated with the Premier League’s Owners’ and Directors’ Test.
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It remains to be seen whether the Saudis will return with their bid, but it appears that they are ready to look elsewhere and there is an opportunity available at Inter.
As reported by The Telegraph’s Luke Edwards yesterday, all Newcastle takeover conversations have been halted by Mike Ashley adviser Justin Barnes and the club is, effectively, no longer for sale.
That is as a result of recent injuries to attacking trio Callum Wilson, Allan Saint-Maximin and Miguel Almiron, with the blow putting the Magpies’ Premier League status for next season in huge doubt.
PIF will not be interested in paying Ashley’s quoted fees for Newcastle should the club end up in the Championship at the end of the season, and relegation will definitely land a huge blow on the Toons’ value.
Inter owners Suning are looking for suitable partners for the club and are ready to sell a minority or majority stake.
Antonio Conte’s side are top of the Serie A at the moment, and winning the league will definitely make the club more attractive to the likes of PIF.
Investing in such a side would definitely be attractive, and should the Serie A rubber stamp a deal, the Saudis will not hesitate to oversee a complete takeover, and that could effectively end their interests in Newcastle.
In other news, Premier League legend is tipping Newcastle to go down.