The investment arm of Qatar’s sovereign wealth fund has taken full control of French top-flight football team Paris Saint-Germain from a US private equity firm.
But it has now sold the remaining shares to QSI in a deal which is believed to value the club at €100m, 30 per cent more than the Qatari firm paid for its controlling stake.
Once a powerhouse of French Football, PSG had been in decline since its glory years in the mid 1990s until Colony Capital gained a 62.5 per cent controlling interest in the club in 2008.
It has since seen a mini resurgence by winning the French Cup, twice finishing in the top six in Ligue 1 and reaching the last 16 of the Europa League European cup competition.
Colony became 95 per cent owners in 2009 by acquiring the shares of Morgan Stanley, but revealed they were looking for new investors in 2010 to turn PSG into a title-contending team.
Through QSI backing the club has spent a French record €108m this season, making them the biggest spending club in the world in 2011/12.
Nasser Al-Khelaifi, who heads QSI and is president of the Al Jazeera television station, has been reported as saying the club will be allowed to spend €100m a year on players for several years to help them strengthen the team.
Last year the side’s biggest signing was Argentinian international Javier Pastore, who joined from Italian team Palermo for €42m.
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