Inter’s form on the pitch has been red-hot in recent weeks, and now the rumors over the Nerazzurri’s new owners are catching up. Along with the British investment firm BC Partners, reports from Il Sole 24 Ore and Gazzetta Dello Sport have Fortress (an American investment firm) and the Saudi Arabian Public Investment Firm (PIF) in talks with Suning. The PIF is Saudi Arabia’s sovereign wealth fund, headed by Crown Prince Mohammed bin Salman. Its total assets are valued at $374 billion or €287 billion. The PIF was recently in the news for an attempted takeover of EPL club Newcastle but that ended up falling apart.
Suning reportedly wants €1 billion for a majority stake in Inter, a figure BC Partners’s €800 million bid has not yet met. However, it appears Suning would be open to selling a 30% minority share to PIF. That would allow Suning to remain in control but with much-needed funds at its disposal. Steven Zhang is rumored to have a desire to stay in charge of the Nerazzurri, while his father, Zhang Jindong is more in favor of a complete sale. Either way, Inter needs a cash injection the sooner the better, so whoever can come to an agreement first will be the main factor in deciding Inter’s next owner.
Sky has also confirmed the reports, and it appears as though BC Partners, PIF, and Fortress will fight it out for a stake in the Nerazzurri.
“Besides BC Partners, there is also Public Investment Fund in Saudi which has important turnover and is the leader in entertainment. They too have gone ahead with offers. Then there is Fortress who has made a hybrid offer, one that is linked to the share capital and financing, perhaps this is an attractive solution for Suning.”
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