Talks in Saudi Arabia - Cardinale wants to buy into Al-Nassr: negotiations with PIF in a consortium with other Saudi investors

The news that emerged in recent days is being confirmed in Saudi Arabia and by the PIF Fund.

Gerry Cardinale wants to expand his influence in football and, through his fund RedBird Capitals, is weighing up a move into the ownership structure of another club after first stepping in at Toulouse and now taking full direct control of AC Milan.

Now, despite an initial denial that looked almost routine, confirmation is coming out of Saudi Arabia that the AC Milan owner, alongside other parties, has begun talks with the Arab state investment fund PIF over the purchase of a stake in Al-Nassr, the club where Cristiano Ronaldo now plays, among others.

PIF sell

For some time now the PIF fund have in fact brought the aggressive investment phase to a close for the four clubs they own in the Saudi Pro League and started putting their clubs' files on the table at major international financial banks.

The objective is to attract capital and investors who can keep the clubs operating at a high level, while helping the fund manage a shift towards financial sustainability without having to keep drawing on state funds.

Al-Nassr target

In analysing this possibility, Cardinale identified the Arab market as the one with the greatest scope to "create value" and Al-Nassr, Cristiano Ronaldo's reigning league champions, as the club with the greatest potential.

According to the Saudi newspaper Al Riyadh, RedBird Capitals are working with a consortium of other investors including Ibrahim Al-Muhaidib, SMC Media and other Saudi partners.

Wrap up by the end of the season

PIF have confirmed the talks, which so far align with the objectives required, but there is still no agreement.

Meanwhile, Cardinale wants to reach an agreement with PIF by the end of this season so they can start acting from next summer's transfer window onwards.