Elkann is open to cooperation with investors

Italian sources talked about the identify of Crown Prince Mohammed Bin Salman in relation to Juventus. The chance got here to mild within the Domani day by day, which carefully follows the negotiations on the sale of the Gedi publishing group to Greek entrepreneur Theo Kyriakou. For now, the constructive impact of the rumors can’t be felt on the value of Juve’s shares, which fell 0.7% on the Italian inventory market.

Citing “sources conscious of the file”, the day by day writes that the Agnelli-Elkann household is making an attempt to cut back Juventus’ weight within the household holding, Exor. The Saudi prince would even be among the many potential consumers. Based on the paper, these rumors are supported by the truth that the Saudi public funding fund (PIF) has a minority stake within the Antenna group, which is negotiating the acquisition of Gedi papers.

Saudi Arabia’s curiosity in soccer is well-known and is a part of the Imaginative and prescient 2030 undertaking, which goals to open the nation to the world and overcome the nation’s financial dependence on oil exports. FIFA gifted the 2034 World Cup to Saudi Arabia and the Saudi Premier League has invested billions to convey champions similar to Cristiano Ronaldo and Neymar to the native league. Additionally, in 2021, PIF purchased Newcastle United, which is now one of many richest golf equipment within the English Premier League. Investing within the soccer world and Juventus would subsequently be nothing new.

Relating to Juventus, it’s price mentioning that on the final shareholders’ assembly (which adopted a stability sheet exhibiting a lack of 58 million euros), John Elkann confirmed that the membership will not be on the market. On the similar time, the supervisor additionally said that Juve is open to cooperation with different buyers. And since Exor at present has a 65% stake, there is a chance to obtain extra minority shareholders. The Saudi public funding fund might be part of Tether, which holds a stake of round 10%, within the camp of minority shareholders. Domani additionally mentions that Juventus has already entered right into a contractual relationship with a Saudi group, since J|medical is already a accomplice of the Saudi Ministry of Well being.