Only two French titles before the Qatari money.
A fund managed by the country’s government is responsible for the investments that have made the club dominant on the national scene and led to the coveted Champions League title.
The atmosphere won’t be the same as at the Parc des Princes, and it’s not even known if there will be more French fans than Flamengo supporters at the Ahmad bin Ali Stadium. But, undeniably, Paris Saint-Germain will feel “at home” in the Intercontinental Cup final this Wednesday. As if closing a cycle, the Parisian team will end its most glorious year in the country that is the great sponsor of its sporting transformation in this century.
Since 2010, PSG has been controlled by Qatar Sports Investments (QSI), a fund managed by the Qatari government that owns 87.5% of the club’s shares. The main executive of QSI, businessman Nasser Al-Khelaifi, is, not coincidentally, the president of PSG and responsible for the multi-million dollar investments that made the team, first, dominant in the national scene and, after some failed attempts, European champion in the 2024/25 season.
Only two French titles before the Qatari money.
PSG was founded in 1970 – that is, when Flamengo already had 75 years of history – and never quite became a powerhouse in French football until the arrival of Qatari money. In 2010, the club had only two French League titles and eight French Cups, in addition to three trophies from the now-defunct League Cup and two French Super Cups. In European competition, its greatest achievement was winning the also-defunct UEFA Cup Winners’ Cup in 1995/96.
After 15 years of continuous investment, the club now holds the record for trophies in all national competitions: 13 French Championships, 16 French Cups, nine League titles, and 13 Super Cups. And it achieved its ultimate European dream, winning the UEFA Champions League in May, followed by the UEFA Super Cup at the start of the current season.
Since 1991, PSG had been controlled by the French media group led by Canal Plus, but the turn of the century brought a series of financial problems. The sale in 2006 to Colony Capital (now DigitalBridge) was not enough to stem the crisis. On the field, the team even fought against relegation in 2006/07 (15th place) and 2007/08 (16th, three points above relegated Lens).
/i.s3.glbimg.com/v1/AUTH_bc8228b6673f488aa253bbcb03c80ec5/internal_photos/bs/2025/j/0/wtvtMLQLSepgs4RvYkmw/gettyimages-2218000941.jpg)
Record revenue in 2025
The Qatari investment fund arrived with the mission of taking PSG to another level, both inside and outside of France. In October of this year, the club published on its website the financial results for the 2024/25 season, highlighting the record revenue of 837 million euros (R$ 5.3 billion), almost nine times higher than the revenue of 2011, the first year of QSI’s control, which was 99 million euros.
The influx of money from Qatar has translated, since the beginning of the project, into the signing of a profusion of international stars. Thiago Silva, Zlatan Ibrahimovic, and David Beckham, in 2013, marked the first major shake-up in the market. The following year, Uruguayan Edinson Cavani and Brazilian defender Marquinhos arrived, the latter now captain and the player with the most titles in the club’s history.
The other shake-up in the market came in 2017, when PSG signed Neymar from Barcelona for €222 million, then the biggest transfer in football history, and acquired Kylian Mbappé, a promising young French player. Runners-up in the Champions League in 2020, defeated by Bayern Munich in the final, PSG used its usual tactics to recover from the disappointment: money and high-profile signings.
/i.s3.glbimg.com/v1/AUTH_bc8228b6673f488aa253bbcb03c80ec5/internal_photos/bs/2025/M/B/YpCuRfTWuyaixbCAOAfg/gettyimages-1495732502.jpg)
With the arrival of Lionel Messi in 2021, along with Sergio Ramos, Donnarumma, and Hakimi, PSG achieved the greatest gathering of stars in its history, finally aiming to win the Champions League. Even with the celebrated trio of Neymar, Messi, and Mbappé, the European dream once again fell short.
PSG needed to change course to finally find its way to the Champions League. Under the command of Spanish coach Luis Enrique, a team of stars still seeking consecration – Dembélé, Vitinha, Kvaratskhelia, Fabián Ruiz – finally led the team to the European title. In July, the French team came within a step of also becoming world champions, but ended up being defeated by Chelsea in the Club World Cup final in the United States. Now, in Qatar, which has financed so many dreams over the last 15 years, PSG plays “at home” against Flamengo to close out a year of total consecration.