Having already taken majority ownership of a number of teams in recent years, Saudi Arabia are reportedly now looking at buying a stake in one of Europe's biggest clubs.
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According to La Repubblica, the Middle East country's Public Investment Fund (PIF), who are majority owners of clubs such as Newcastle United, Al Hilal, Al Nassr and Al Ahli, are edging closer to acquiring a stake in Italian juggernauts AC Milan.
RedBird Capital Partners are currently the majority shareholders of the Rossoneri, and its chief executive officer Gerry Cardinale is reportedly looking to finance a new stadium for the team.
Following their early exit from the UEFA Champions League this season, the American chief is said to believe investment from the Gulf state could go a long way in helping them achieve this.
With Saudi Arabia hosting a Formula 1 Grand Prix this weekend, the same report claims that delegates from the PIF are already present in Riyadh to hold a meeting with RedBird after the weekend is over, have been granted the exclusivity to potentially buy a part of the seven-time European champions.
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Talks between the two entities have been rumoured for months, and it now seems there is progression over the sale.
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