Global news

PSG owners eye LA Galaxy group

March 7, 2013
By Ian Holyman, France Correspondent

The Qatari investment fund that owns Paris Saint-Germain is involved in a push to take over the entertainment empire that includes Los Angeles Galaxy, according to L'Equipe.

David Beckham trains with Paris Saint-Germain for the first time
GettyImagesQatari-owned PSG have signed stars including David Beckham

The French sports daily's website reported on Thursday that the Qatar Investment Authority, whose sports arm Qatar Sports Investments took over PSG in 2011, has joined forces with Colony Capital, former majority shareholders at the Parc des Princes, in an attempt to buy out AEG owner Phil Anschutz.

Three bidders remain in the running to purchase the group, which - in addition to Galaxy - owns NHL franchise the LA Kings, holds shares in the LA Lakers, owns the O2 Arena in London and is a major player in the music industry.

L'Equipe reports that a deal for AEG would cost between $7 billion and $10 billion.