Inter owner Steven Zhang in talks to sell club to Saudi investors

Inter owner Steven Zhang is currently in talks to sell the club to Saudi investors, amidst constant rumours of a potential sale. This time, the talk does seem to have some weight behind it.

Corriere della Sera have reported that the negotiations of the sale to the Saudi investors are conducted personally by the president of Inter with the help of the investment banks Goldman Sachs and Raine, who have long been entrusted with the task of working on the financial reorganization of the club.

The potential buyer in question is not PIF but someone within the circles of the Royal family of the country. The same party has previously made an attempt for Inter but the move was rejected by the club, when Andrea Agnelli was in-charge. 

The negotiation is well underway and the thread of the negotiations unravels between London, Milan, Riyadh and Nanjing, where Zhang has been for months. At the moment, however, there is no certainty regarding its outcome and sources close to the ownership point out that in the last three or four years, many Middle Eastern funds and institutions have requested financial information about Inter.

The Saudi party would have to pay at least €1.2 billion that has been requested by Zhang, but there seems to be a shortage of time. That is because in just 37 days, the club’s controlling holding company will have to repay the €250 million loan (plus €70 million in interest) granted in 2021 by Oaktree. Otherwise, the US investment fund will be able to enforce the pledge on the Inter shares and become their owner.

Kaustubh Pandey | GIFN