PIF and Suning talks confirmed over Inter Milan sale talks | OneFootball

Saudi Arabia's Public Investment Fund (PIF) have pulled back from talks with Inter Milan's owners Suning about buying into the club.

CBS reporter Ben Jacobs has delivered an update on the situation, confirming negotiations have been held.

He stated: “Inter's denial a sale to PIF is close is correct. The parties have held no recent or advanced talks. Not since September.

“PIF have considered both minority & majority ownership. But Suning drive a hard bargain.

“A 30% stake and full ownership have both been explored in the past. But Suning seem to want stop-gap funding & value the club far higher than PIF (or other suitors) do.

“Unless price or circumstances change quickly I expect any KSA involvement to be via sponsorship not ownership.

“PIF are opportunistic, but invest for value not vanity.

“There would be value in sponsoring Inter & becoming part of their brand. That's a logical next step in theory."

Jacobs concluded, “There is not currently value in buying Inter at Suning's asking price even with progress on the stadium front."

PIF currently are part-owners in Newcastle United.