Reports from Italy suggest Inter owner Steven Zhang is in ‘advanced talks’ to sell the club to a Saudi investor. Reports from Corriere della Sera suggest that negotiations for the sale to Saudi investors are being personally spearheaded by the Inter president, with support from investment banks Goldman Sachs and Raine. These institutions have long been involved in the financial restructuring efforts of the club.
The prospective buyer is not the Public Investment Fund (PIF) but an entity associated with the Royal family of Saudi Arabia. Interestingly, this same party had previously attempted to acquire Inter, only to be rebuffed by the club during Andrea Agnelli’s tenure.
The negotiation process spans across multiple locations including London, Milan, Riyadh, and Nanjing, where Zhang has been stationed for months. Despite the ongoing discussions, uncertainty shrouds the outcome. Sources close to the ownership reveal that over the past few years, numerous Middle Eastern funds and institutions have expressed interest in obtaining financial details about Inter.
The Saudi investors would need to meet Zhang’s asking price of at least €1.2 billion. However, time is of the essence as the club’s controlling holding company faces a looming deadline. In just 37 days, the company must repay the €250 million loan (plus €70 million in interest) provided in 2021 by Oaktree. Failure to do so could result in the US investment fund enforcing its pledge on Inter shares, effectively assuming ownership.
