Reports are growing that Suning prefer Saudi investors PIF rather than BC Partners, especially after the Saudis dropped Newcastle United in favour of Inter.
The negotiations with BC Partners have been going on for several weeks, but seem to have stalled because the fund is refusing to meet the €1 billion asking price, considering the club to be worth just €880m.
Suning have bought themselves more time and are no longer in such a desperate situation, having sold 25 per cent of their trading business.
Reports are growing that Suning prefer Saudi investors PIF rather than BC Partners, especially after the Saudis dropped Newcastle United in favour of Inter.
The negotiations with BC Partners have been going on for several weeks, but seem to have stalled because the fund is refusing to meet the €1 billion asking price, considering the club to be worth just €880m.
Suning have bought themselves more time and are no longer in such a desperate situation, having sold 25 per cent of their trading business.
According to La Repubblica, The Sun newspaper and other sources in England, the Saudi Arabia Public Investment Fund (PIF) have dropped their interest in purchasing Premier League club Newcastle United.
Owner Mike Ashley had accepted a bid last year, before it was withdrawn due to financial uncertainty amid the pandemic.
The Magpies are still trying to renegotiate the deal, but it seems as if PIF have pulled out and turned their focus to Inter instead.
La Repubblica note that the PIF approach would be preferred to BC Partners because it would be an investment for 30 per cent of the club.
This allows Suning to keep control of Inter, with an agreement in place should the Saudis want to increase their share at a later date.