Newcastle United’s Saudi owners are said to be in talks with Inter Milan.
Newcastle United’s owners are reportedly in discussions for a significant agreement with Inter Milan. As per Italian sources, Saudi Arabia’s Public Investment Fund (PIF) is currently engaged in negotiating a business deal with the Serie A team. Despite speculation hinting at PIF’s potential interest in acquiring the Italian club, the Turin-based newspaper, Tuttosport, indicates that Newcastle United’s owners are not presently pursuing such an acquisition.
However, this proposed deal aligns with the sovereign fund’s broader strategy of forging commercial partnerships across European football, marking not their first involvement in Serie A or the Champions League. PIF acquired an 80% stake in Newcastle United back in 2021 and has since aimed to expand its investments within the sports realm.
This season, PIF-affiliated Riyadh Season secured a sponsorship deal with Roma, prominently displayed on the team’s shirts, valued at approximately $8 million annually. Additionally, Riyadh Air, an airline owned by the investment fund, became the primary shirt sponsor for Atletico Madrid this season. These ventures have sparked discussions about the majority owners of the Magpies seeking to acquire another European football club, potentially establishing a multi-club model.
Earlier this year, Newcastle co-owner Amanda Staveley, holding a 10% stake in the club, mentioned their contemplation of purchasing another football 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 exciting new guys.”We obviously looked at a multi-club, but whenever you look at a multi-club, you have to make sure you have the correct fit with the current developments around GBE points. It’s critical to do so.
“You also have to choose your territory correctly and make sure you’ve got the right chemistry. Remember, you’re working with another fanbase and another area. It’s critical you set out what your goals will be. It’s complicated.
“We’re also looking at another structure that would allow us to do both, maybe something that gives us more opportunity to work with a lot more clubs. That’s just quite an early stage. I think anybody who is looking to buy a club is going to be looking at that multi-club model.”
Leave a Reply