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Inter not a priority for Newcastle owners PIF at the moment

Corriere della Sera newspaper insists that the Saudi investment fund PIF, which has just bought Newcastle United, was interested in a takeover by Inter, but that is no longer a priority.

The Libero newspaper reported on talks between the current owners, Suning, and the Saudi Fund at an advanced stage.

PIF ready to finalize € 1 billion takeover by Inter?

They paid € 350m to buy 80 percent of Mike Ashley’s Newcastle United shares and Inter would be closer to € 1bn.

In an updated report, the Corriere della Sera states that negotiations with PIF have taken place, but that they have been going on for several months.

A lot has changed in the meantime, as Suning has taken out a loan of 275 million euros from Oaktree, while PIF completed the acquisition of Newcastle United, which was blocked by the Premier League at the time due to a TV rights dispute.

However, the Corriere della Sera also notes that Suning is not out of the woods yet as the record losses keep piling up and they have three years to repay the Oaktree loan at 10 percent interest.

The issue could therefore be discussed again soon, although Inter is currently not a priority for PIF.

It is suggested that Suning Inter intends to hold at least until the new stadium gives the green light, but with Italian bureaucracy that could take several years.

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