Paris St. Germain Signs $200M Commercial Partnership With Qatar Tourism Authority
Ligue 1 club Paris Saint-Germain has "clinched a massive deal with the Qatar Tourism Authority" that will bring the league leaders "more than €150M ($200M) over each of the next four seasons," according of Ian Holyman of ESPN. It is not a sponsorship agreement but a "vast publicity campaign intended to promote the image of Qatar." Retroactive for '12, it "will boost PSG's coffers by €150M for the current campaign, increasing progressively to a minimum of €200M ($265.5M) in its final season, '15-16." That sum "could be even larger, with the contract containing bonus clauses based on the team's performances in European competition" (ESPN, 12/20). In Paris, Gouaillard & Folgoas noted the QTA "is an institution in charge of developing tourism activities in the Qatari peninsula." Unlike Qatar Sports Investments, owner of PSG, QTA "has no profile investment funds." These two entities, however, share one thing in common: both are attached to the State of Qatar. QTA Chair Issa bin Mohammed al-Mohannadi "was appointed in May by the Emir himself" (LE PARISIEN, 12/20).