If Mike Ashley had got his way, Saudi Arabia’s Public Investment Fund would own 80% of Newcastle United right now.
That was the plan last year, as PCP Capital Partners agreed a £305million deal to buy the club.
Amanda Staveley would own 10%, while the other 10% would go to the Reuben brothers.
But the majority shareholder would have been PIF. It was their riches that were being lined up to take Newcastle to the top.
However, things fell apart in July last year when PIF withdrew their interest. This was because of the Premier League’s inability to complete their Owners’ and Directors’ test.
Since then, all we’ve had is speculation. Ashley has two legal battles against the Premier League as he looks to resurrect a deal. Meanwhile, Staveley has admitted she can’t say anything about Newcastle because of a Non-Disclosure Agreement.
But Newcastle aren’t the only club they’ve been linked with.
In March it was claimed that PIF were interested in a stake of Serie A giants Inter Milan.
According to Corriere Dello Sport, PIF made an offer to buy 30% of the club.
Inter face financial turmoil
Two months on from PIF’s reported interest, and the landscape at the San Siro has changed.
The club are now Serie A champions, winning their first title since 2010.
They were also involved in the failed European Super League project.
Now Inter are reportedly facing serious financial issues.
According to Corriere Dello Sport, they are facing an ‘economic and financial crisis’.
Their financial woes may force big names such as Romelu Lukaku and Lautaro Martinez to leave.
Inter clearly could benefit from the riches of PIF. Despite being one of the biggest clubs in the world, they are struggling financially.
The same can be said of Real Madrid and Barcelona, which is why the European Super League project was so important to them.
Big clubs need big money.
And big money is exactly what Newcastle could have if PIF are allowed to complete a takeover.
As always, we wait for news. And until then, we will hope that PIF’s reported interest in Inter is just paper talk.