By David Gold
June 1 – A Qatari investment company has bought 70 per cent of Ligue 1 outfit Paris St. Germain from the club’s current owners, Colony Capital.
Qatar Sport Investments, which was set up in 2005 by a member of the Qatari Royal family, Prince Sheik Tamim Bin Hamad Al Thani, adds the French club to its previous investments which include a golf club and health spa in Doha.
It is the latest European club to be bought by investors from the Gulf region, Manchester City being the highest profile.
Last year Malaga was taken over by a member of the Qatari Royal family, and last month La Liga outfit Getafe were bought by investors from Dubai.
Paris St. Germain finished fourth in Ligue 1 last weekend after an encouraging campaign, just missing out on a place in the Champions League to Olympique Lyon.
It is likely that the Parisians, who have not won Ligue 1 since 1994, will invest further after the takeover, as they look to catch up with Lyon, Marseille and new champions Lille.
Club chairman Robin Leproux was thrilled at the news.
“This is an historic moment,” he said.
“I expect much of a club that has matured, and with so much invested, we can dream bigger.
“The whole of the Paris St Germain team is very enthusiastic.”
Manager Antoine Kombouare was more cautious.
“This is great news for the club, this will bring new blood,” he said.
“Will they trust us?
“I hope so but I do not know.”
The team’s spending will probably be more constrained than their English and Spanish counterparts, as French club finances are monitored by the Direction Nationale de Contrôle de Gestion, which has the power to sanction any side whose accounts spiral out of control.
A statement on Paris St. Germain’s official website said: “The partners will work together to build on Colony Capital’s achievements over the last five years of their ownership of the club, to enhance its visibility and pre-eminence.”
Sébastien Bazin, head of Colony Capital in Europe, added: “Since the beginning of its investment in the PSG, Colony has recognised that it would always be but a steward of this great club.
“Over the last five years, Colony has worked diligently to improve the management of this Parisian institution.
“It has laid the ground work, including a new successful training centre and reinvigorated youth academy, from which to launch the Club in its rightful place among Europe’s leading clubs.
“As part of its stewardship, Colony sought out the ideal partner who would contribute to its ambitions for the PSG and assure its place in history.
“Our new associate is such a partner, fully motivated to ensure the club fulfils its full potential.”
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