Newcastle owners ‘targeting £800m takeover of European giants… and immediately set aside £250m for new stadium’
NEWCASTLE’S Saudia Arabian owners are targeting an £800million takeover of Roma, according to reports.
The Saudi Public Investment Fund [PIF] purchased Newcastle from Mike Ashley in October 2021.
And the PIF are now planning to add Serie A giants Roma to their portfolio, according to La Repubblica.
Talks are underway with Roma’s American owners Dan and Ryan Friedkin, with the PIF understood to be planning a £768m offer.
The Saudis are also planning to invest a further £258m into the club to build a new stadium in Pietralata.
Private investor Turki Alalshikh, who is a royal adviser and president of the General Entertainment Authority of Saudi Arabia, could front the takeover bid.
However, the Friedkins could prove tough negotiators as they value the club at £1billion and want to remain majority shareholders.
Roma’s legal chief Eric Williamson, who works closely with the Friedkins, has been spotted in Riyadh, the capital of Saudi Arabia.
He is believed to have discussed a potential takeover with the Saudis, as well as the club’s sponsorship deal with Riyadh Season, a Saudi sports and leisure festival that now features on the front of the Roma kit.
The PIF is part of the Saudi state and reportedly has resources of up to £1.1trillion.
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The sovereign wealth fund that holds a majority stake in Newcastle was valued at around £315bn when the takeover was confirmed.
The PIF purchased the Magpies for around £300m.