Newcastle United’s New Saudi Patrons Eye Italian Giants Ownership

Newcastle United have entered a new era under new ownership led by a Saudi Arabian consortium – a €350m (£300m/$408m) deal that ended Mike Ashley’s 14-year tenure at St.James’ Park. However, Newcastle aren’t the only team on the Saudi Public Investment Fund’s radar.

According to Calciomercato, Suning Holdings Group led by Steven Zhang are ready to sell the club quite potentially to the new owners of Newcastle United.

Inter are said to be accumulating continuous debts that has put the club in financial danger, especially after recording the worst losses by any club in Italian calcio history in 2020/21 – ironically, their Scudetto title-winning season.

The Nerazzurri have offset losses with the sales of Romelu Lukaku and Achraf Hakimi but government impositions and lack of funds due to lack of stadium revenue is worrying to say the least.

The report mentions of possible contact between the PIF and Zhang. But the Chinese owner is critically interested to oversee the construction of a new stadium for the club – a long drawn saga alongside brotherly rivals Milan – which was the dream of his father Jindong Zhang.

The following days will see more development regarding the new stadium plans and it remains to be seen how the Italian situation between the Middle East party and the Chinese play out.