The News Craving
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Al-Araby
Al-Araby
A Saudi sovereign wealth fund is close to buying out the current owners of the prestigious Italian football club Inter Milan for $1 billion, according to reports. Saudi Arabia’s Public Investment Fund (PIF), which recently led a consortium in the takeover of English football club Newcastle United, would become a majority shareholder in the Serie A team “in the coming days”, the International Business Times reported. Inter Milan had a successful 2020-21 season, winning the Italian league for the first time in 11 years. However, like other Serie A teams, Inter Milan has suffered hundreds of mill…