Saudi Arabia wants to buy Italian giants AC Milan

The Saudi Public Investment Fund have reportedly turned their attention to AC Milan after pulling out of the Newcastle takeover. The proposed £300 million takeover collapsed on Thursday after the Saudis withdrew from the deal.

The move was called off 17 weeks after the paperwork was first filed.

The Saudi-backed consortium, fronted by Amanda Staveley, blamed the prolonged process and circumstances brought on by the Covid-19 pandemic for the collapse.

Sources in Riyadh and Italy claim the Public Investment Fund are looking at the possibility of capturing Italian giants AC Milan.

Serie A team Milan are not the European force they once were, but new Arabian owners could make them the richest club in the world.

Zlatan Ibrahimovic’s side would have unparalleled spending power and could attract the world’s best stars to play at the San Siro.