Thursday, June 02, 2011

Another European club falls to West Asian investors

A West Asian investment vehicle has acquired a majority stake in leading French Ligue 1 club Paris Saint-Germain (PSG).

According to AFP, the Qatar Investment Authority, an investment arm of the 2022 World Cup country’s government, has snapped up a 70% shareholding from US group Colony Capital, which became the majority owner of PSG in 2006 after buying the club from Canal Plus.

PSG finished fourth in the domestic standings this season and lost the French Cup final to Lille.

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