This morning’s edition of La Repubblica (via Radio Rossonera) writes that PIF are interested in acquiring a majority stake in Milan. The newspaper have been reporting for several weeks that there could be changes at the top of the club, but today they’ve gone a bit further.

New rumours have arrived from the Middle East regarding the future corporate reorganisation of Milan because the fund interested in the Rossoneri are keen on getting a deal done as soon as possible.

That group are PIF (Public Investment Fund), i.e. the sovereign wealth fund of Saudi Arabia. In particular, investors attributable to Saudi Aramco (an oil company under the control of the fund since 2016) are the ones that are keen.

We are talking about an almost total acquisition too, because the paper states: ‘The fund are interested in acquiring the majority shares of the club by the end of the season’.

The indiscretion is important, both because it reveals the name and identity of those interested in taking over the club, and because it gives precise timing and guidelines: by the end of the season.

If in the summer of 2022 Milan were valued at €1.2bn and that was the figure agreed between RedBird Capital and Elliott Management, the club are now worth around €1.6bn as per the source.

The newspaper reports that ‘unofficially’ the news has filtered from Milan, RedBird and Gerry Cardinale that there is no intention to sell the majority shares of the club to the PIF fund in the short term.

The hypothesis put forward by Repubblica, however, goes in the opposite direction: “If two months ago it was Cardinale and AC Milan CEO Giorgio Furlani who travelled for meetings in Arabia, now the journey in the opposite direction of the PIF-Aramco emissaries would testify to the leap forward in the story.”

If La Repubblica are correct in their reporting, in the coming weeks the situation could become much clearer than it is today.