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Sunday, November 29, 2020

Qatar fully acquires French football club PSG

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Qatari investors have now acquired full control of popular French football club Paris St. Germain, the U.S. investment fund that sold its stake has confirmed.

Colony Capital, which sold Qatar Sports Investment a 70 percent controlling stake last May, had owned PSG since 2006, but will now pass full ownership to the Qatari group.

Last year’s purchase made waves in France and has been used by far-right French presidential candidate Marine Le Pen to win popular support in the upcoming elections.

PSG, which finished fourth in France last season, is now valued at more than $131 million, 30 percent more than the price QSI paid last year to take control, financial news site Wansquare has said.

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