Posted on June 01, 2011

Paris St Germain have become the latest European club to be taken over by Gulf investors after a Qatari investment company acquired a 70 percent majority shareholding in the French giants.

Following the takeover of English side Manchester City by Abu Dhabi's HH Sheikh Mansour bin Zayed Al Nahyan in 2008, a number of clubs on the continent have since been bought over by Arab investment funds.

Spanish La Liga outfit Malaga were taken over by Sheikh Abdallah Ben Nasser Al-Thani, a member of the Qatari ruling family, in a reported €25million (QR132m) deal 12 months ago, while another Spanish side, Getafe, were purchased by Dubai's Royal Emirates Group last month.

The takeover of PSG however, continues to raise the sporting profile of Qatar, who not only won the rights to host the 2022 World Cup finals but, in the guise of the Qatar Foundation, inked the most lucrative sponsorship deal in football history with Barcelona.

"Colony Capital and a Qatari investment company announce today that they have reached agreement for this new partner to take out a 70 percent sharholding in Paris St Germain with Colony Capital retaining 30 percent of the club shares," said a statement from Colony Capital.

PSG, who finished fourth in Ligue 1 this season and lost the cup final to Lille, are currently sponsored by Dubai's Emirates Airline, although their long-term involvement with the Parisian cub may come into question following the takeover.