AFP

Qataris complete PSG buyout

Qataris complete PSG buyout
By Eurosport

06/03/2012 at 16:32Updated 06/03/2012 at 19:00

Colony Capital has sold the remaining 30 per cent of its stake of Paris Saint-Germain to majority shareholder Qatar Sports Investments, the American investment fund confirmed.

The US-based private equity firm, previously the majority shareholder of PSG, sold 70 per cent of the club to the Qataris last summer but retained the remainder, giving it a say on major board decisions during the transition period.

"I can confirm that Colony sold the remaining 30 per cent," a spokeswoman for Colony said, confirming a report on the WanSquare financial news website.

Wansquare estimated the current total value of PSG at 100 million euros, meaning the buyout of the remaining shares was at a higher value than the original 70 per cent sale, which was made for approximately 50m euros in 2011.

PSG last won the French title in 1994 but are flying high atop Ligue 1 under the management of former Chelsea and Milan boss Carlos Ancelotti, who was appointed in January and works alongside director of football Leonardo, another ex-Milan manager.

Since the initial 70 per cent buyout, PSG have spent tens of millions on star players, including Argentina international Javier Pastore, Italy midfielder Thiago Motta and France forward Jeremy Menez.

QSI is the sports arm of the Qatar Investment Authority, the tiny Arab state’s sovereign wealth fund.

QSI has been linked with bids for Premier League clubs Manchester United and Aston Villa in recent years, and has been tipped as a potential sponsor of Tottenham Hotspur’s proposed new stadium.

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