Saudi Arabia’s Public Investment Fund (PIF) is reportedly in talks to purchase Belgian second-tier team KV Oostende for £10 million ($13 million), according to The Athletic. Should the deal be finalized, the move would add the team to PIF’s portfolio of football clubs, which already includes Newcastle United.
However, PIF will need to negotiate with the club’s various investors, including Partners Path Capital and Pacific Media Group (PMG).
PMG, which owns stakes in eight European clubs, is alleged “very much open to offers,” but PIF faces competition from Wolverhampton Wanderers’ owners, Fosun International.
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According to reports, the Saudi fund, which currently possesses LIV Golf and acquired an 80% stake in Newcastle United for about $400 million in 2021, is apparently in discussions with various European soccer clubs that might be open to being acquired.
PIF has also explored potential deals for Serie A’s Genoa, Hertha Berlin in Germany, and a minority stake in Sevilla, the six-time UEFA Europa League champions. The Fund is also looking into acquiring the Brazilian club Vasco de Gama.
Globally, the PIF is responsible for managing approximately $620 billion worth of assets, which includes investments in prominent companies like Live Nation, Disney, Uber, and Meta, along with major players in the video game industry such as Nintendo, Electronic Arts, Take-Two Interactive, and Activision Blizzard.
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