Qatari PSG owners reach agreement for minor stake in Braga
On Monday, a deal was reached that would allow the Qatari owner of Paris Saint-Germain to purchase a small part in the Braga soccer team in Portugal. Check out the complete details about it below.
Qatari PSG owners reach an agreement for minor stake in Braga
According to Qatar Sports Investments, an agreement to purchase about 22% of the 101-year-old club’s shares was disclosed to Portuguese financial authorities, and the transaction should be finalised soon. With Braga, which has participated in the group stage seven times in the previous eight seasons and is a regular in the Europa League, QSI is investing in the team’s Champions League prospects. Braga reached the 2011 Europa League final.
The team now qualifies for the Champions League qualification stages since it is currently in the third position in the Portuguese league, behind perennial heavyweights Benfica and Porto.
Portugal is vying with France and the Netherlands for a third direct admission into the Champions League group stage under new rules that go into the effect in 2024 for the domestic league ranked No. 5 by UEFA. While UEFA regulations prohibit clubs with joint ownership from participating in the same competition, QSI’s minority position would probably prevent intervention if PSG were paired with Braga. According to Braga president Antonio Salvador, “We think that this is the appropriate shareholder to drive our growth and expansion.”
The president of PSG and head of the QSI, Nasser al-Khelafi, called Braga “an excellent Portuguese institution with a strong heritage, huge ambition, and a reputation for quality on and off the pitch.”
According to Deloitte, PSG presently has the sixth-highest income in the world of football ($556 million annually), and according to Forbes, the seventh-most expensive football club in the world ($3.2 billion).
Stay tuned with us to get more updates in the sports world. Also, find out more details about the upcoming cricket and football matches.
