Inter Milan president in talks to sell club to Saudi investors

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By Martin Graham | 13th Apr 2024Amidst ongoing speculation surrounding a potential sale of Inter Milan, club owner Steven Zhang is currently engaged in discussions with Saudi investors, indicating a potential shift in the winds.

Reports from Corriere della Sera suggest that Zhang is personally leading the negotiations, with assistance from renowned investment banks Goldman Sachs and Raine. These institutions have been integral in the financial restructuring efforts of the club.

The potential buyers, reportedly linked to the Saudi Royal family, have previously shown interest in acquiring Inter. However, their previous attempt was rebuffed during Andrea Agnelli’s tenure at the helm of the club.

Complex negotiations spanning continentsThe negotiation process spans across multiple global hubs, including London, Milan, Riyadh, and Nanjing, where Zhang has been based for an extended period. Despite the widespread scope of discussions, the outcome remains uncertain.

Sources close to the ownership reveal a flurry of inquiries from Middle Eastern funds and institutions over recent years, underscoring the growing interest in Inter’s financial standing within the region.

Racing against time and financial pressuresA sense of urgency looms over the negotiations as Inter’s holding company faces a pressing deadline to repay a substantial €250 million loan, coupled with a €70 million interest burden, provided by Oaktree in 2021. Failure to meet this financial obligation within 37 days could potentially result in Oaktree assuming ownership of the club, should they enforce their pledge on Inter shares. To secure the sale to Saudi investors, Zhang has reportedly set a minimum asking price of €1.2 billion, adding further complexity to the negotiations amidst the looming deadline.

Martin Graham is an MFF sports writer