French football giants Paris Saint-Germain are set to receive a major capital boost from their owner Qatar Sports Investments (QSI).
Qatar Sports Investments chairman Nasser Al-Khelaifi, also the PSG president, has agreed to a fresh capital injection of €316 million ($370 million) into France’s top division Ligue 1 champion club, French digital media company Wansquare has reported.
The new influx of capital is set to further bolster the clubs’ position in the football transfer market.
QSI has taken over as the majority owner of the club in 2011 with 70% shares, bringing much stability to the club then suffering from weak finances and declining form. The deal, worth €50m, covered €15-20m in debt and €19m in losses from the 2010-11 season.
In 2012, QSI purchased the remaining 30% stake for €30m to become the club’s sole owners. Prior to the Qatar buyout, PSG had recorded losses for over a decade. The year before the club had recorded a loss of $37m.
PSG is now one of the richest football clubs in France and one of the wealthiest in the world. As per recent estimates from Forbes, PSG is the world’s eleventh most valuable club with its net value reaching $841 million last year.
Last year, PSG smashed the global transfer record when they splashed out €222 million on Brazilian star Neymar before paying a further €145 million for French teenager Kylian Mbappe.
In 2017, PSG’s operating result was a deficit of €18.4 million, while they recorded a profit loss of €6.8 million despite making €8.2 million in 2016.