Newcastle director Amanda Staveley revealed the PIF fund ‘talked to Inter’ but are not interested due to the ‘mess’ in Serie A.
The Saudi Public Investment Fund took over the Magpies in the Premier League but had been linked with a possible takeover in Milan too.
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.
But Staveley, the managing director of PCP Capital Partners fund and right-hand of the Arab PIF fund, revealed the Saudi owners are not interested anymore.
PIF back in talks for Inter takeover amid Evergrande concerns
“We talked to Inter Milan, AC, but the problem was the structure of the league was a mess,” she said on the sidelines of a Premier League meeting, according to the Telegraph.
“We looked briefly at Bordeaux. But we are not looking at Inter [anymore].”
Staveley believes the fund has invested in ‘the greatest league in the world’ and admitted they had been given a good reception from other bosses in the Premier League.
“I have a lot of friends at other clubs,” she said. “And also, I have a lot of respect for the Premier League. I think we’ve got the greatest league in the world and I believe in the collective power of that league.”
Amanda #Staveley: ‘Il fondo #Pif ha parlato con l’#Inter, ma ora non è più interessato’ https://t.co/0RaYpY0SkL pic.twitter.com/sOJLIISi0a
— calciomercato.com (@cmdotcom) November 12, 2021
He’s listening to the Premiere League propaganda machine and buying it hook, line and sinker.
Where is the lie??? Serie A is no longer appealing. Stars are now leaving. Salaries cannot be met and the old stadiums are never full. No glits and glamour. Just good football thanks to AC Milan and Atalanta.
What she means is that there’s actually a structure in place, rather than the premier league that is basically sold out and welcomes anyone with deep pockets.
As a Milanista I wouldnt want these people or any money hungry people anyway, I want owners that will be there for the next 50 to 100 years, not quick profits.
She’s a Brit so she’s going to say that. And she’d probably want Serie A to stay a “mess” too, as otherwise it’d penalise the EPL as a potential success-or rival! That’s the funny thing, if Serie A used it’s “collective power” as the nation’s most popular and passionate sport, then it’d practically sell itself to a global audience! Even if you take into account the massive discrepancy of resources between the northern and southern clubs, you’ve still got 9 or 10 clubs with massive fan bases all capable of competing for top honours-AC, Inter + Juve of course, Roma, Lazio, Fiorentina, Napoli, Sampdoria and even Parma, all with a good European heritage. England may win in terms of 4 competitive divisions but I still think Serie A has the most potential of any 1 division or league at a global level. The degree of competition in 80’s/90’s Serie A was insane and it still has that cool factor. Even the few, less well-off clubs would often perform admirably. Atalanta reaching the CWC 1/2 final while in Serie B is probably the best, but far from only eg. And in terms of a country’s setting, don’t even think about it, England has no where near the magnetic pull of a place like Italy! I hope she did say it was a mess though, as the more condescending comments there is like that, which reach the ears of the Lega, then the more Serie A may pull it’s trousers back up again and get it’s act together!
Whether you like it or not she is telling the truth and is respectable business woman. The EPL was nowhere to be seen in the 90’s. The ball was just hoofed up the field and the best players always came to Serie a. They modernised the whole infrastructure from top to bottom whether that is the tv rights, stadium and aggressively pushing into the Asian markets. The sad reality is money talks. No player in their right mind would want to play at City if there was no money and it gets dark at 2pm. However the elite players will also not want to play in sunnier conditions if they are paid at the fraction of the wages. Italy is a great country with a rich culture and passion for the game second only to Brazil and perhaps Argentina. The issue is they have no money, no ideas and refuse to move on from traditions. The stadiums have not even been upgraded since 1990. It goes beyond football, Italy as a whole is in debt and the economy has been stagnant with no growth for 20 years.There is too much politics, red tape and dirty money. I do not think that the Milanese will ever build a new stadium. At least Agnelli and Percassi have evolved in many ways and are leading the way. Even Turkey has better infrastructure. The Stadio Maradona is something completely out of the stone ages. Germany, France and Spain are leaving Italy behind. I hate to admit this but it is true coming from an Italian.
Well that’s her opinion, but if she really is truthful you cannot compare Inter as a brand and club to Newcastle that has virtually not won anything, and honestly has a very poor squad, but with Inter they would have had an already competitive team, with a good coach, the only issue is the stadium, but come to think of it Newcastle needs to renovate St James park, and build new and functional training centres, which inter already has, right now they will have to spend tonnes and tonnes of money on the squad to even survive relegation, but with Inter they would already have a winning team, and yes Italy as a lifestyle, leisure, historical, destination would be better,The city of Milan is a more polished and elegant destination to the city of Newcastle, so with inter apart from the soccer, u can still create other attractions that would still bring in tonnes of money to an investor, will that be possible in old, boring and cold Newcastle, who in their right minds would choose Newcastle over the city of Milan for a summer holiday….?
@sarcone is totally right! We are holding our self back in comparison with rest go of top big leagues in Europe. Italian clubs only earns max 15% of total revenues per year in comparison with 30 to 40% of other league from stadia. Our infrastructure laws are in shambles bureaucratic hurdles red tapes much more. It takes ages to make an inch of progress as far as stadium is concerned. This all is holding us back. Italy is a rich cultural country it self is a brand which doesn’t needs any promotion we just have to tweak and evolve in ever changing environment. I am milan fan but the way atalanta have performed in Europe literally makes Italian seria a proud. We just have to look ourself in mirror and realise what is holding seria a back common people italy are euro champions there is ample talent but its issue beyond football are pulling us back.
She is a Novice in Football Her… She Can Whatever she Wants… Whats Happenning to the Premier League is What is Killing the England National Teams…. They will Never Win Any international Trophy Ever… The Structure that Serie A and La Liga Has Help the National Team to Improov…. Shes a True Novice and Not Lnowing what she ia Talking about….. They are Comming Only For Money Profits thats All…..
Who cares what she said or thinks! LOL
INTERNAZIONALE is 1000 times more attractive than old, boring Newcastle.
The other thing is that in the Middle East everybody loves Calcio and Italy, so poor little Amanda may never have that with her old loser club.
What novice investors don’t understand when investing or buying a sport franchise is u need to look at acquisitions in terms of the size of the club’s, the history and achievements, why do you think Man city and PSG have not won the UCL yet, an exception is Chelsea who won both their UCL when they least expected, both times they were not favourites to win, it’s better to go for a big Franchise that’s used to winning the biggest titles, honestly any player that will go to Newcastle United will do it because of the money, if they had gone for inter or AC Milan, with 2 very good shopping markets they would be able to win even the UCL, already these 2 clubs have very strong foundations, both in terms of management and the squad, very ultra modern training centres, and they both have a very serious stadium project that will further illuminate both the city and their prestige, with Newcastle She will spend hundreds of millions before the team is even competitive enough to be a mid table team, even Milan and Newcastle as a location cannot be compared, Milan is an ultra modern city, with great shopping, hotels , historical attractions, leisure and lifestyle destination, Newcastle is a smaller far less attractive destination for the ultra rich crowd they will need, I am curious to see how their project will start , and the kind of management they will set up.
The first stage of conducting due diligence at the corporate level is you look at financial statements. So…her comment about Serie A being a mess is accurate. No one can argue that for the most part…even if an approximation has been made to some degree.
I say this as a Serie A fan.
P*ss off and keep working for the journalist murderers in England then, Aslan.
@Meer, grazie fratello hai anche ragione
@jupiter you cannot even spell and your punctuation is just atrocious. That is another problem blaming and deflecting. Things can never improve without perspective. Serie a was once the bench mark of world football. It was the final chapter for world stars to graduate and be pressure tested. The premier league is now that bench mark. Even smaller clubs have more spending power as the television rights are more evenly distributed. There is also greater rewards for those clubs being promoted from the Championship. As I said before Italy is bankrupt and in economic decline for 20 plus years. Until they can sort out the economy especially since the pandemic little will change. I love Serie a but I am also not afraid to see the reality.
@SArcone
Ha! Gets dark at 2pm. Steady on, it can be grim in the N of England in winter but it’s not Siberia. All football’s a mess. Agents, wages + wild, economic disparity. She coulda just said, if she did indeed say anything? That “no, we’ve invested in Newcastle now, Inter are no longer on our radar,” but then goes on to foghorn about the EPL’s status
+ that Italy is a mess! I know “rankism” when I sniff it + she reeks. Putting down Italy to big up her own club, league and probably herself too! Might still be sore over the Euro’s, who knows? The EPL’s TV rights were based on the Serie A model of the 80’s/90’s. The only difference was the EPL did modernise it’s stadia, which each club happened to own. But that’s only because they were in such a shocking state of disrepair that they were a national disgrace. I saw the Bradford City fire as a tot with my own eyes. But there’s no real difference between the EPL now + Serie A back then. Except the EPL has gone more global. But it’s the same structure of haves + have-mores + it leads to the same corruption. Hence the comments which came out of a recent EPL meeting from that Spurs or Arsenal director “we don’t want too many Leicester’s happening as it’s bad for the “top” clubs?” + “the top 6 should have a monopoly on just about all of the cash?” The pendulum swings but Serie A will come back + hopefully it’ll be a healthier model, without clubs run as vain projects by rich despots who are so far behind they think they’re first. Their looting, fracking + plundering of finite, natural resources is comin’ to an end. No wonder they’re selling it all off? Atalanta(own stadium, run at a profit) + Milan(Growing global brand) are about the best model to follow if the rest can all work together. Dal Pino has ideas, he said that Serie A must become the most watched league in the world again + there’s nothing wrong with tradition! It doesn’t have to be 1 extreme way or the other! Italy’s tradition is a blessing, if they can use that culture to sell the brand + stop it from becoming a plastic league for the privileged few. Along with a serious, updating of the infrastructure too, of course. But there is a middle-way. Sorry, rant over! But it’s only cause I’m passionate about Serie A. : )
@House Party I take on board what you saying and I was just joking about Manchester but it does get dark early and rains a lot there. Why I said this is because of certain players who take the money such as Robinho and Di Maria who cannot adjust to the culture and climate. Being from the northern part of Italy the country is in a mess financially. Look at the South there are no investments and unemployment is terrible. That is why younger people have to go abroad to work. Sorry for the boring part but it is relevant as my country has no money to modernise the key infrastructure. Look at what happened with the Morandi bridge. If we cannot maintain bridges we can keep dreaming about stadia etc. The only club that has identified the need to change is Juventus and Atalanta. Udinese to a certain extent with the Dacia arena. The key has always been heavy advertising and tv rights in the Asia Pacific region. Everyone there loves the premier league and will stay up till the early hours to watch Manchester United and Liverpool but barely anyone watches serie a. Even in China they prefer to watch the premier league over Inter. We have been behind the game for too long and it is sad but true. Money solves everything but does not grow on trees, maybe in England
People seem to forget , or they do not know that when you really have the money buy or invest in a sport franchise then you should go for the more illustrious Franchise, it would be easier to achieve your goals, let’s be honest with ourselves, do you think all the Arab owners of these clubs buy them to make money ..? no they use them as a means to spend their billions and enjoy the prestige and the thrills.
Between Inter and Milan it would have been more easier to achieve global success with these clubs than Newcastle, who could be relegated this season, unless they spend huge amounts of money in January, these 2 clubs already have organised structures, strong squads, massive fan base, experienced management, and world class training facilities, the only aspect that needs improvement right now is the stadium issue, which already these clubs have a well defined plan,but with Newcastle, they will need to build world class training facilities and also renovate St James park, create an experienced management structure.
When it comes to the attraction of the two cities, Milan is a far better city than Newcastle, it’s refined, cosmopolitan, elegant , with breathtaking historical attractions, world class hotels and leisure facilities,food and as always La dolce vita, what does Newcastle have that can really attract the high calibre clients that will propel the club to greatness, but come to think of it, they would need to spend significantly higher sums to buy these 2 Milanese clubs, people saying Italy is a country in financial decline should also wait and see what will happen to the UK in a few years time.
Their is a specific reason American investors are buying Serie’a teams, especially the provincial clubs that are based in lovely tourist attraction cities, they understand Italy as a Nation attracts more tourists every year than the UK.
Forget about the darkness it only gets dark in my pants when Allegri comes out of the tunnel and it is always raining in my underwear seeing nursing home tactics. The biggest club in the peninsula is doing a disservice to the country using the old defensive tactics which do not work on the world stage. Mancini is making the nation proud and is the standard-bearer.
She said they’re no longer talking to Inter… does that mean that they’re still talking with Milan?!?
@Sarcone
I agree with all what you’re saying. And Asia is a massive market. Except money does kinda grow on tree’s as it’s made of paper? : ) But even if it doesn’t Serie A has huge potential + is very undervalued atm. These new owner’s will help Italy to develop it’s infrastructure, if they’re allowed? But it probably will happen sooner or later as there’s too much “potential” money at stake. If football in Italy started booming again + they capitalised on it this time, then it would boost income in so many different areas. I understand the point’s that you make though.