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Newcastle United: PIF claim dropped on potential takeover

Newcastle United: PIF claim dropped on potential takeover - Newcastle United News

A claim involving the Kingdom of Saudi Arabia’s (KSA) Public Investment Fund (PIF) has been dropped after the failed takeover of Newcastle United.

As per The Sun, the group have reportedly switched their attentions over from the St. James’ Park faithful to Inter Milan.

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The news outlet understands that PIF are currently in talks with the Serie A club, who are valued at roughly £850m.

Inter have been desperate to sell since the end of last year and the publication report a source as claiming that PIF ‘look to have given up‘ on the North East club.

Huge blow for Newcastle

If the claims that PIF are looking elsewhere are true, then it could potentially be a big blow to the hopes of a takeover on Tyneside.

For the original deal between Mike Ashley and the KSA consortium to be revived, they would need to put themselves back onto the table, but it looks as if they may be starting to lose interest in that.

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Inter are currently a club who ‘tick all the boxes’ given that they are currently top of their domestic league at the moment, six points clear of their local rivals AC Milan after 26 games, with just 12 more left to play.

That puts Antonio Conte’s team in pole position to qualify for the UEFA Champions League for the start of the 2021/22 term, which may well be seen as a more attractive proposition than taking over at the Magpies.

In other news, find out what PIF claim has been dropped by a finance guru on the potential takeover here!

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Article title: Newcastle United: PIF claim dropped on potential takeover

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