Reports in Italy suggest Saudi investment fund PIF are back in negotiations for a takeover of Inter, after Evergrande’s default put Suning in a tricky financial position.
The interest from PIF goes back to last year and another attempt seemingly crumbled over the summer due to their differences in valuation over the price of the Serie A club.
Instead, PIF completed the takeover of Premier League side Newcastle United for £305m (circa €356m), but that wasn’t the end of the situation.
According to Mediaset reporter Marco Barzaghi, PIF and Inter owners Suning resumed talks several days ago.
The reason is that Suning’s position has changed, with news Chinese real estate giant Evergrande has defaulted on outstanding debts.
Suning have a lot of their finances tied in with Evergrande and will take a big hit if they do go under.
Barzaghi claims much of what happens next will depend on tomorrow’s meeting in China, when the ruling party will decide how to proceed with rescuing Evergrande or perhaps attempting a ‘controlled implosion’ of the company to minimise the effects on the larger economy.
Suning also have a new card up their sleeve, though, as the local council in Milan gave the go-ahead to build a stadium next to the Stadio Giuseppe Meazza, which would increase the value of both Inter and AC Milan.
With that in mind, the asking price for a takeover of Inter is going to be €1 billion.
Barzaghi: “PIF-Inter, arrivano altre conferme. Trattativa riaccesa, si tratta su…” https://t.co/F16UKeINws
— Fcinter1908 (@fcin1908it) November 11, 2021
A REMINDER TO ALL: Anything Suning has invested in stay away from ! First Evergrande, next Inter, and soon enough Suning ! Thise Zhang family have the midas touch in reverse…everything they invest it turns into a garbage investment !
Was it Zhang (family) or Suning (company) that had ‘invested’ (speculated/gambled) in Evergrande shares/bonds? Either way, Suning need to get out, before they let their PERSONAL financial misfortune drag Inter further into the financial abyss.
The sale to PIF was always going to happen. I would have been concerned a few years ago – now not one bit. The agents, vested interests etc have destroyed football.
This could be a blessing in disguise. Oil money has worked wonders for City and PSG. My club also needs money even to change the horrible colours making us look like NBA referees.
Innnnnnnniiiiiitttttrr Milan
PIF save Juventus so we do not have to buy players on 2-3 year loan deals. I am sick and tired of always having to shop in the discount stores and accepting rotting fruit like Danilo. Stop the haggling down the market.
dangerboy do not worry the trash team. We must stock up on the toiler paper now son. The Lazio game is next week followed by Atalanta.
jolly good
I will be getting the Charmin ultra strong CID, much needed for high stakes matches.
@DANGER BOY: This could be a blessing in disguise? I said the same thing about Perscription !! Did you Know that inter has not played a round of 16 match in Champions League since Prescription ! and they also set the Italian record as the only Italian team to fail to pass the Champions League Group stage 3 years in a row! Not to mention they went a decade without winning a recognized trophy !
innit tea time ?
Nope not yet I got to clean the skid marks from the mess Jorgi made when he missed the pen
Yes, it’s always tea time.
It’s so great for our rotted teeth. Top drawer!
Limey cunts, hehehe
That is so poor with the new nickname fake dangerboy. Getting your comedy from SNL is always a bad idea. I broke you as when someone only has racism to resort to it reveals who they really are. Also typing in bold letters (CANNOT) is another sign of a person who has lost it.