4th Aug 2011 | Football
A French Football Revolution
On the 30th June, PSG became one of the richest clubs in Europe. We look at how it happened and if the bookmakers have taken it into account.
The top tier of French football kicks off this weekend and there has been a dramatic shift in power. On June 30 Qatar Sports Investments bought a 70% stake in Paris Saint-Germain. Comprising a group of Qatari investors, including links to the ruling elite, overnight PSG became the richest club in France and one of the wealthiest in Europe.
Former Inter Milan head coach Leonardo has been hired as general manager and a slew of big name signings quickly followed. With Palermo’s Javier Pastore an imminent arrival for 43m euros (£37.4m), PSG have done a ‘Man City’.
Without a championship since 1994, PSG are now 5/2 favourites to win France’s Ligue 1, having been as big as 13/2 at the start of June. The nouveau riche of Paris open their campaign at home against Lorient and are 8/13 to start with a win.
The takeover has also been causing ripples in Europe. Finishing fourth last season, PSG qualified for the Europa League where they are now 14/1 third favourites. Available at 20/1 when the market opened, they are as short as 8/1 with Victor Chandler.
With £37 million already invested and that figure set to more than double, Parisians might fall in love again with their football team.
Odds correct at time of publishing: 11:46 4th Aug, 2011 but subject to change
