Former Newcastle takeover leader Bin Salman switches attention to new club

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Mohammed bin Salman has reportedly turned his attention to Inter Milan after walking away from a bid buy Newcastle United.

Saudi Arabia's Public Investment Fund – led by Crown Prince Bin Salman – was part of a consortium which launched a £340million takeover bid for the Magpies last year.

They withdrew their attempt in July last year after losing patience amid scrutiny from the Premier League owners’ and directors’ test.

Toon fans have been hoping there could still be a resolution, after owner Mike Ashley launched a legal bid over the collapsed takeover bid.

But Bin Salman's PIF are now in talks with Serie A giants Inter, according to The Sun.

“The Saudis made an approach for Inter Milan a week or so ago," a source told the publication

“You can’t buy two clubs at the same time and they look to have given up on Newcastle.

“They have plenty of muscle to take over Inter’s debts.

“Inter are top of Serie A and are in the new Champions League – they tick all the boxes.”

Inter are owned by China’s Suning Holdings, who have reportedly been desperate to sell since the end of last year.

The Serie A leaders are said to have debts totalling £650m.

Last week, Ashley said said he was fighting "tooth and nail" with the Premier League to sell to the Saudi-backed consortium, which also includes Amanda Staveley and the Reuben brothers.

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    • In Ashley's eyes, the club was sold last spring when he agreed the £340million deal to hand the club over to the Middle East consortium, according to the Newcastle Chronicle.

    Those close to the takeover talks describe it as the Magpies "winning the lottery but the supporters being denied a payout."

    Last Friday, Newcastle lost a High Court bid to remove Michael Beloff QC as the chairman of a panel effectively deciding the outcome of Ashley's legal bid.

    • Champions League
    • Premier League
    • Mike Ashley
    • Serie A
    • China
    • Saudi Arabia
    • Newcastle United FC

    Source: Read Full Article