Inter Milan are the subject of takeover interest which could spell the end of Newcastle United fans’ dreams of a Saudi-backed deal to buy their club.
That is according to finance guru and Football Insider columnist Kieran Maguire, speaking exclusively after Gazzetta dello Sport’s print edition revealed on Thursday that the Public Investment Fund of Saudia Arabia (PIF) are keen to invest in Inter.
The Serie A league leaders have been looking for a buyer since January with Suning Holdings seeking around £775million for their 68.5 per cent stake in the club.
The PIF agreed a £300m deal to buy Newcastle from Mike Ashley but the takeover collapsed in July 2020 amid various legal challenges.
Maguire explains that any faint hopes of the PIF resurrecting their interest in Newcastle would be dead in the water if an Inter deal was to go through.
“The deal certainly would be over as far as that particular investor is concerned,” he told Football Insider correspondent Adam Williams.
“There is always talk of other people being interested in Newcastle. Inter are up for sale at present, that’s the worst kept secret.
“But if PIF do take over Inter, they’re playing in Europe and under UEFA rules you wouldn’t be able to control two clubs who could potentially be playing each other in the Champions League or Europa League.
“So if you buy Inter, what’s the point in buying Newcastle? The whole point of buying Newcastle is because the intention would be to get them into the Champions League. And if an Inter deal goes through, you’d then be left with a sticky wicket.”
The club is currently involved in a legal dispute with the Premier League regarding the failed PIF takeover bid in 2020.
On Friday, the High Court ruled that a judge presiding over the case would maintain his position despite allegations of bias from Newcastle.