PARIS ( Associated Press) — Paris Saint-Germain was shocked and disappointed after Paris Mayor Anne Hidalgo said the team’s home, the Parc des Princes, is not for sale.
This means that PSG will not be able to buy their own house.
PSG benefit from a long-term deal, but want to regain their own status. In an interview with readers of the newspaper Le Parisien, Hidalgo indicated that this would not happen.
“The Parc des Princes is not for sale. And it will not sell. It is a final and firm decision. It is an extraordinary legacy for Parisians”, indicated the mayor. “Of course we have to help PSG in their desire and we need to renovate, increase capacity and modernize the Parc des Princes … But let’s remember the restrictive context: part of the stadium is on the periphery, so we can’t dig”
Formed in 1970, PSG began play at the Parc des Princes two years later. The club, owned by investor Qatar QSI, believes owning a stadium is a vital part of its development and fears they will have to look elsewhere.
“It is shocking and disappointing to hear that the mayor of a large city like Paris is taking a position that will force PSG, our fans and communities to leave the Parc des Princes,” PSG said on Saturday. Tens of millions of Euros to taxpayers to maintain the structure of a 50-year-old building.
PSG said it has already invested more than 85 million euros ($92 million) in stadium maintenance costs and has committed to investing another 500 million euros ($542 million) in renovations so the club can return to the highest level in Europe. Compete with other teams.
PSG said, “Obviously the big investment will be made by PSG only if we are the owners of the Parc des Princes.”