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Friday, July 19, 2024

Newcastle owners table $1.4 billion bid for Italian giants Roma

It first started with acquiring superstar Cristiano Ronaldo, then English Premier League side Newcastle United. Now Serie A club Roma are on Saudi Arabia’s radar.

According to La Repubblica, a bidding war is underway between the Saudi Sovereign Investment Fund (PIF) and Saudi private investor Turki Alalshikh for the acquisition of Italian soccer club AS Roma.

Following the recent dismissal of Jose Mourinho, Roma’s American owners, The Friedkin Group, are contemplating a substantial offer that encompasses a change in outright ownership, sponsorships, and the construction of a new stadium. The report suggests that two offers, both around $1.4 billion (£1.1 billion), have been put forward.

Ties between Italian football and Saudi Arabian investment have deepened over the past decade, evidenced by three of the past five Italian Super Cup Finals being held in Jeddah and Riyadh.

In January, Inter secured their eighth Supercoppa title with a 1-0 victory over Napoli at Al-Awaal Park, marking the inaugural four-way tournament, which also featured Fiorentina and Roma’s rival, Lazio.

Furthermore, Serie A recently announced the opening of an office in Riyadh, marking its second international branch following the launch of the New York office in 2023. Additionally, an agreement has been reached to host four of the next six editions of the Super Cup in the Arab Kingdom.

Both the PIF and Alalshikh have maintained their stance on acquiring 100% of the club’s shares. With negotiations ongoing and complex, a resolution is anticipated in the coming months.

Roma, currently in fifth place in the Serie A standings, face one of their most challenging tests of the De Rossi tenure against Inter Milan on Saturday.

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