Bahrain Purchases 20% of Ligue 2 French Club Stakes
2020-07-28 - 5:52 p
Bahrain Mirror (Exclusive): "Ligue 2 side Paris FC on Monday announced that the Kingdom of Bahrain was taking a 20% minority stake in the club," a sports website specialized in the French football news reported.
This came in an official statement the Paris FC club administration published on its website. The administration added that this decision also aims at whitewashing Bahrain's image and economically developing it by attracting investors and tourists, noting that Pierre Ferracci, French politician and businessman, remains the main shareholder with a stake of 77%.
The communiqué also revealed that the club is anticipating to add another investor in the coming months.
The statement didn't specify the value of the deal upon which Bahrain acquired one fifth of the club stakes.
Bahrain is following the footsteps of the GCC neighbors, such as Qatar, which owns stakes of Paris Saint-Germain Club, the UAE which owns Manchester City and Saudi Arabia, which is currently negotiating to purchase shares in the Newcastle club.
It is expected that Bahrain bought fifth of the Parisian club through Infiniti Capital Investment Company, particularly that Bahrain bought, in December 2019, the Spanish football club Cordoba through Infinity. Abdullah Al-Zain has become president of the club. An organization said at that time that the Crown Prince Salman bin Hamad Al Khalifa is the real owner of Infiniti Company and that his younger brother Nasser bin Hamad appears to be a partner.