By Andy Sambidge
French media says Qatar Investment Authority keen to buy Paris Saint-German for $71.9m
Qatar's sovereign wealth fund is likely to buy Ligue 1 football club Paris Saint-Germain, according to reports in French media.
Qatar Investment Authority (QIA), which has estimated assets worth $80bn, is in talks to buy the French club for a price of around 50 million euros ($71.9m), sports newspaper L'Equipe said.
It said QIA was set to seal the deal in the summer, which will see Qatar assuming ownership of the club from current majority shareholder Colony Capital within a year.
The French paper said that American owned Colony Capital had put the club up for sale last month.
The introduction of QIA as a major shareholder would have no impact on the management of the club, the paper added.
Last summer, Qatari businessman Sheikh Abdullah bin Nasser al-Thani took over Spanish La Liga club Malaga after sealing a $44m deal.
The chairman of Nasser bin Abdullah and Sons Group took 100 percent ownership of the club.
Last month, Dubai-based Royal Emirates Group confirmed its buyout of Spanish La Liga side Getafe and said it planned invest up to $130m in the team over a five-year period.
Qatar's profile in the world of football rose dramatically last December when the country won the right to host the 2022 World Cup, despite concerns that the summer temperatures would make it difficult for players and fans.