According to press reports today, Wednesday, the Public Investment Fund Group in Saudi Arabia, which acquired Newcastle United, intends to buy Inter Milan and French Marseille as well.
Italian media reported that Saudi investors have already met with the owners of Inter Milan, and Chinese businessmen are ready to sell the Italian club for one billion euros.
And the English Premier League football club “Premier League” announced in a statement on Thursday that a group led by the Public Investment Fund in Saudi Arabia has acquired Newcastle United.
“Following the completion of the owners and managers’ test in the Premier League, the club has been sold to this alliance with immediate effect,” the statement added.
Yasser Al-Rumayyan, Governor of the Saudi Sovereign Fund, said: “We are pleased today to announce the acquisition of Newcastle FC, one of the most famous clubs in English football, and we thank the fans for their loyalty to this ancient entity over the years and we look forward to working with them for the benefit of the club.”
The Saudi Public Investment Fund, with investments of $430 billion, represents the kingdom’s sovereign wealth fund, and is the focus of Saudi Arabia’s efforts to diversify its economic activity instead of relying on oil.