June 26, 2022

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International Business Times – PIF is one step away from the Inter.  Suning sells for a billion dollars

International Business Times – PIF is one step away from the Inter. Suning sells for a billion dollars

In the next few days, when the contracts arrive at Inter’s headquarters, a stunning announcement will be made. to say it International Business Times Which explains how the Saudi Public Investment Fund acquired the Nerazzurri after paying one billion euros. The PIF can manage around 400 million in its entire portfolio.

financial problems
While it is true that Zhang explained today how Suning conducted all of its employees, on the other hand, there was a general liquidity issue for the Chinese. Inter did poorly last season, losing $320 million, and now continues to lose around $15 a month. It’s no secret, he explains IBT That the Italian clubs are in dire need of new investors, given the accumulation of debts of Juventus and Roma in the last period (with the increase of capital for the other two clubs). This will be the second signing after Newcastle.

expert comment
IBT He also spoke with Andrea Zanon, a consultant who has helped 15 finance ministers in the Middle East. “Under the leadership of Crown Prince Mohammed bin Salman, Saudi Arabia is aggressively diversifying its economy. By acquiring Inter, which adds to potential acquisitions of the French side of Marseille, as well as the Brazilian side of the first class. Unknown, the Kingdom of Saudi Arabia aims Saudi Arabia to become a major player in international football.The acquisition of these teams is also in line with the strategic investment priority of MBS 2030 vision, which is the vision of Saudi Arabia and the economic transformation project.Public Investment Fund takes advantage of the massive cash generated from oil revenues, in order to diversify The Saudi economy is far from hydrocarbons and investing in sports, tourism and entertainment, among others.This was unthinkable before Crown Prince Mohammed bin Salman took power in 2017, and once this acquisition becomes public, Inter will become the richest team in the world, Thanks to the partnership with K. SA, through Inter, Italy can think big and regain the prestige of international football that it has lost over the years.”

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