Paris Mayor Anne Hidalgo has rejected PSG's offer to acquire the Parc de Princes stadium, thereby halting Qatar Sports Investments' planned expansions.
Since 1973, PSG has utilized the Parc de Princes stadium located in the upscale 16th district of Paris. The club desires to enhance and enlarge the stadium elevating its capacity from 47,000 to 58,000 seats, a move which would require an estimated expenditure of 500 million euros. However, PSG’s Qatari owners, Qatar Sports Investments (QSI), can only authorize this upgrade if PSG acquires the stadium.
Despite attempts at negotiations with Paris city hall for the purchase, the discussions have not yielded any positive outcomes thus far.
“We opened the door to the possibility of selling the stadium to our club because it’s true that if you look at the economic model of the biggest clubs, almost all of them own their stadiums,” Paris Mayor Anne Hidalgo told RFI newson Thursday.
“There are also prices that must be set and have to correspond to the property in question.
“PSG offered €38 million for the stadium. It’s ridiculous.”
“It may be a bluff or a misunderstanding about what our democratic rules are. We are in a country where the rule of law works, so there are procedures” she said
