French soccer giants Paris Saint-Germain (PSG) are close to selling a minority stake in the club but have reaffirmed the current ownership’s commitment to the record French champions.
Qatar Sports Investments (QSI), a Qatari investment fund, has been the sole owner of the club since 2012, having initially purchased 70% of PSG in 2011.
In over a decade in charge, QSI has never diluted its stake, but now the club is closing in on outside investment for the first time under QSI with a decision expected over the coming months.
Speaking at a media session in London, UK, PSG chief revenue officer Marc Armstrong stated: “It's quite widely known that we're looking at potential outside investors for a minority stake, and we’re hopefully closing that soon.
“That's about taking the business to the next level and helping us in certain markets. We’re constantly finding new ways of innovating and bringing in revenues and growing the brand.”
Armstrong stressed that despite the pending investment decision, QSI was not looking to divest from the club.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
He added: “There was no interest in selling the club and the ownership is more committed than ever, you see that with the Poissy [training ground] investment and what we're prepared to spend on the stadium. I think it's just about bringing that business to the next level and certainly in key markets.”
One company mooted as a likely investor in the club is US private equity firm Arctos, which has invested in a number of sporting properties including soccer giants Liverpool and recently Formula 1 motor racing team Aston Martin.
Armstrong spoke positively about the influence of US private equity, saying: “In the US, these people have a history of investing in sports franchises, have great people in their company within their advisory board, and we think we can really work well together to take the business to the next level.”
The club’s representatives also confirmed that the bidding for a stake is a competitive process, with a number of parties from across the world eyeing up a stake.