Tuesday’s reports claim that Milan’s ownership group RedBird capital have held talks regarding a potential purchase of a majority stake in Saudi Pro League club Al-Nassr, which would also see Cristiano Ronaldo claim 20% of the shares in the club that he currently plays for.
Report: Milan owners interested in acquiring Al-Nassr alongside Ronaldo
According to information from Calcio e Finanza, the Saudi Public Investment Fund (PIF), which owns 100% of the shares in Al-Nassr, are working to settle the club’s current debts, which reportedly amount to €190m ($213m, 800m).
Their hope is to improve the club’s current financial situation in order to facilitate a sale to a consortium of investors led by RedBird, who also own Milan.
According to the Calcio e Finanza report, RedBird have met ‘at least twice’ with representatives from the PIF, and have discussed the possibility of acquiring a 70% stake in Al-Nassr.
It has been suggested that Cristiano Ronaldo could also take a 20% stake in the club that he currently plays for. Other entities, including the Saudi Media Company, are also involved in the consortium according to Tuesday’s report.
Calcio e Finanza claims that RedBird are prepared to invest around €238m ($267m, 1bn) to acquire a 70% stake in Al-Nassr. This would give the club a total valuation of €340m ($381m, 1.43bn).
As things stand, negotiations are said to be at a ‘preliminary’ stage. Sources have told Calcio e Finanza that an agreement between RedBird and the Saudi PIF is not a guarantee at this stage.