A Saudi fund is concretely interested in taking over Inter. It’s not simply speculation, but it has been conducting the due diligence on their finances for a few weeks. They could soon lodge a bid to Raine Group, the bank that received the mandate to find buyers, TuttoSport informs (via Calcio e Finanza).
Investcorp, which was linked to the Nerazzurri in the past, refused to confirm or deny whether they were back in the picture. They are based in Bahrain, but most of their capital comes from the nearby Middle Eastern country.
The bidders would have to offer at least €1.3B to have a shot to be successful. The Zhang family that controls Inter would eventually want to cash in more than how much Gerry Cardinale paid to acquire Milan from Elliott.
Last season’s success in the Champions League and the project to build a new solo stadium in Rozzano progressing, albeit slowly, fuel the lofty asking price set by the Suning conglomerate.
The call on the Inter sale has yet to be made. The ownership is gauging the market should they go in that direction. Raine Group assisted Todd Boehly in buying Chelsea from Roman Abramovich following the sanctions deriving from the war in Ukraine. The clock is ticking as Zhang would have to find the money to refinance a massive loan from Oaktree in May 2024 if he decided to keep ahold of the franchise.
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