New Saudi customer from Newcastle United takes care of the Italian giant’s property

Newcastle United have entered a new era under a new property, led by a consortium from Saudi Arabia – a €350m (£300m/$408m) deal that will mark Mike Ashley’s 14-year tenure at St James’ Park finish. Newcastle are not the only radar team of the Saudi Public Investment Fund.

According to Calciomercato, Suning Holdings Group, led by Stephen Zhang, is ready to sell the club to new owners Newcastle United.

Inter are reported to have accumulated ongoing debt that has put the club in financial danger, especially after recording the biggest loss of any club in Calcio Italia history in the 2020/21 season, ironically, their season in the Scudetto.

The Nerazzurri made up for the losses with the sales of Romelu Lukaku and Ahraf Hakimi, but government spending and a lack of cash due to lack of revenue from stadiums is worrying to say the least.

The report mentions possible contact between PIF and Zhang. However, the Chinese owners are keen to see the construction of a new stadium for the club – a long and difficult tale with sibling rivals Milan – which was the dream of his father Jindong Zhang.

In the coming days we will see further developments in the plans for the new stadium and we will see how the situation in Italy develops between the Middle Eastern and Chinese sides.

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