New target mooted for Saudi Arabia after Newcastle United takeover decision
Saudi Arabia’s sovereign wealth fund could launch a takeover bid for a Serie A club, according to a report.
The Public Investment Fund (PIF) this week pulled out of a £300million move for Newcastle United.
In a statement, PIF and their backers blamed the “prolonged process” for the decision.
Financier Amanda Staveley – who led the takeover – has said that there “may be a way forward”.
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However, Saudi Arabian financial newspaper Sanadeq claim that PIF could now move for AC Milan.