PIF eye two Serie A giants after successful Newcastle venture

December 2, 2023 Trending News

Serie A heavyweights from Milan, arch-rivals AC Milan and Inter, are reportedly under the watchful eye of the Public Investment Fund (PIF).

For the time being, four of the most popular clubs in Saudi Arabia—Al Nassr, Al Ittihad, Al Ahli, and Al Hilal—are owned by the Saudi Public Investment Fund. Last summer, Saudi Arabia welcomed a slew of elite players thanks to their massive financial influx.

Already in January, Cristiano Ronaldo had made his way over there to play with Al-Nassr. Some estimates put the annual value of the offer at around $200 million, which he accepted at the start of 2023.

Karim Benzema, who had previously played with the Portuguese at Real Madrid, joined him in the summer after he departed for Al-Ittihad. Just a short time after, N’Golo Kante, another Frenchman, departed Chelsea to join the 2022 Ballon d’Or winner in the Kingdom.

In June, Al Hilal broke the Premier League transfer record with a $60 million deal to acquire Ruben Neves from Wolves. This record didn’t last for long as the club bought Malcom, a former winger for Barcelona. The Brazilian international Neymar surpassed that record once again. This came when he finally signed a deal to go from Paris to Riyadh, reportedly for $97.8 million. In reality, it was the most significant summer transfer to the Saudi Pro League.

Serie A on PIF radar after Newcastle takeover?

Newcastle, a club in the Premier League, are yet another property of the fund. The Magpies have also added to their roster of high-profile acquisitions. This came after being acquired by a group headed by Saudi Arabia in October 2021.

Over the last two years, the St. James’ Park’s side have soared to unprecedented heights. All thanks in large part to Eddie Howe’s use of the Public Investment Fund to spend more than $507 million on new players.

Inter and AC Milan made an impression upon their visit to Saudi Arabia for the 2022 Supercoppa Italiana

Now, the group are reportedly…


Source link : https://worldsoccertalk.com/news/pif-eye-two-serie-a-giants-after-successful-newcastle-venture-20231202-WST-474500.html

Author : Martina Alcheva

Publish date : 2023-12-02 19:20:24

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