The investment organisation that had been heavily linked with a deal for Tottenham Hotspur have reportedly threatened to divest from French football over a legal case.
Qatar Sports Investments, the Qatari government operated organisation that owns French giants Paris Saint-Germain, has seen its chief, Nasser Al-Khelaifi, become the focus of an investigation in France over allegations of corporate vote buying and abuse of power offences.
Al-Khelaifi was charged earlier this month, with the case relating to a boardroom struggle at the media firm Lagardere Group, with the focus on allegations of an attempt to influence a vote at the company, in which QSI is the biggest shareholder.
The investigation has sparked a row, with QSI now reportedly ready to consider their investment in PSG, a club that they have majority owned since 2011 but where they have been diluting their interest over the past couple of years, selling real estate and handing over a 12.5% stake in the club to American investment firm Arctos Sports Partners.
RMC Sport quoted an anonymous source close to QSI as saying: “The Qataris have had enough of these abuses.
“’False legal proceedings, blackmail, daily criticism, being blamed for the total incompetence of others—every problem in France is their fault.
“Every time they try to help, it’s supposedly for ‘soft power’. This is pure abuse, and everyone has had enough.”
Al-Khelaifi, who serves as chairman of the European Clubs Association as well as the broadcaster BeIN Sports, has previously been linked with an interest in taking a minority stake at Spurs after reportedly holding talks with club chairman Daniel Levy in 2023, something denied at the time.
Levy and Al-Khelaifi are said to have a close relationship and alignment, and with Levy and ENIC the focus of much ire from Spurs fans who made their feelings known both prior and during Sunday’s 1-0 win over Manchester United at the Tottenham Hotspur Stadium, angry at the running of the club, QSI’s potential divestment from France in the not too distant future could raise some eyebrows.
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Last week, as first reported by the Guardian, a Qatari consortium were linked with a potential takeover play for Spurs, one where it was suggested that Levy could remain in situ as chairman in the event of any deal. The report claimed that the interested Qatari party were not linked to the QSI.
QSI have spent big in pursuit of success at PSG over the past 14 years, breaking the transfer world record twice to bring in Neymar Jnr for £200million in 2017 and Kylian Mbappe for £160million a year later, not to mention adding Lionel Messi to the ranks for a period to create the most potent star-studded strike force ever assembled in European football. It still did not yield what was yearned for, which was a UEFA Champions League title.
The approach has changed in recent seasons, with PSG less inclined to spend big money, with the perilous state of France’s diminishing media rights not helping matters. The transfer strategy has changed at a time when QSI are reducing the level of their stake in the club.
QSI will want to have a foothold in European football at the top level, and the issues around stadium ownership at PSG, with the City Council owning the Parc des Princes and QSI having been frustrated in attempts to address that as well as with plans to build a new stadium in the French capital, have only added to the frustration.
Spurs, of course, don’t have such issues and the stadium is an enormous boon, so too is the fact that the club has multiple revenue streams that their rivals cannot lean on, with a balance sheet that allows them to spend on bridging the gap to competitive success, and based in one of the world’s most popular, and populous, cities.
Having influence in the Premier League would be significant for the QSI and for Al-Khelaifi, as it would for the Qatari state, although it is often stressed that the QSI and the government operate independently of each other.
There are few who can give Levy a run for his money when it comes to negotiation, but Al-Khelaifi is one of those, and the direction of travel for QSI should be watched closely with regard to how it might impact Spurs and their ownership status moving forward.
