Saudi Arabia now looks at Torino as next Newcastle United – Rumours from Riyadh to Italy
11/27/2024 12:16 PM
Newcastle United's Saudi Arabian owners are eyeing up Torino as their next purchase to expand their football network.
That's according to Corriere dello Sport, who say the Saudi Arabian Public Investment Fund are eyeing up investment in Italy to continue building their football portfolio.
The newspaper explains that rumours are circulating in Riyadh that the group are interested in buying another club. That club is Torino, but there have not been any negotiations yet.
At the moment the Newcastle owners are 'evaluation the feasibility of the operation' but Torino owner Urbano Cairo has yet to publicly put the Granata club up for sale. A €200m offer would deepen negotiations and he may sell for €250m.
Newcastle's owners consider football an 'extraordinary vehicle' for increasing their investment portfolio in the tourism and entertainment sector in Italy.
The purchase of an Italian club could be considered an opportunity, much the same way Newcastle was when they bought them.
The purchase of Torino would allow them to expand their group and build a football network much like those in charge at Manchester City have done.
For the moment Cairo is not confirming he wants to sell and PIF aren't doing anything but exploring the possibility of a purchase, but the idea is certainly being floated.
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