PSG Might Invest €500m In A New Stadium After Struggling To Buy Parc Des Princes

Paris Saint-Germain (PSG) has been playing at the Parc des Princes since 1972. However, now the French Club is looking to invest €500 million for a new stadium after being refused the sale of Parc des Princes. The Parisians are looking at alternatives which include the likes of Stade de France, Saint-Cloud racecourse, and Poissy.

The Qatar Sports Investments (QSI) owned club, has spent upwards of €85 million in the renovation of the facilities at the Parc des Princes. However, as per a recent announcement from city mayor Anne Hidalgo, the stadium is listed as a property for the people of Paris. The QSI cannot buy it no matter the price.

The arena has been the home ground of the Parisian club for nearly 40 years. The club and its executives were surprised by words from Hidalgo as the club has invested heavily in the stadium over the years. Here’s what the mayor said (via ESPN):

“We have a very clear position. The Parc des Princes is not for sale, and it will not be sold. This is a firm and definitive position. It is an exceptional heritage for Parisians.”

PSG as well spoke out on the matter. Hidalgo, on the other hand, despite being reluctant to sell the property, is interested to work with the club for further development of the stadium’s facilities. The club, however, has long moved on. They will look for alternative options to find a new home stadium for the team.

A club executive said:

“It is surprising and disappointing to hear that the mayor of Paris is taking a position which, effectively, will force PSG, our fans and communities away from the Parc des Princes; while also — quite remarkably — adding tens of millions of Euros to the taxpayer burden to maintain the structure of the building, which is now 50 years old and in need of renovation.”

The club further added:

“It is regrettable that the Mayor is now suddenly foreclosing — definitively — the sale discussions we’ve been having for a long time, with the club now sadly forced to advance alternative options for our home, which is not the outcome the club or our fans were hoping for.”

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