PSG showed interest in acquiring the Stade de France last calendar year but the club has withdrawn its bid, focusing instead on other projects, including the expansion of Parc des Princes or building a new stadium, Le Parisien reported on Tuesday, Jan. 2.
The decision was influenced by the arrival of the American investment fund Arctos, and comes after a detailed evaluation by PSG's Qatari owner, QSI, revealing complexities and constraints in the Stade de France deal and a disagreement with Arctos about the potential investment.
The Stade de France is set to host the 2024 Olympics closing ceremony and is seeking a new owner from July 2025, following a 30-year concession by the State to the Vinci-Bouygues consortium. Interested parties had until recently to submit applications to Fin Infra, the financing support mission under the General Directorate of the Treasury, PSG included.
PSG's withdrawal stems from the complexity of the Stade de France deal and a preference to focus on acquiring and expanding the Parc des Princes, or in case of emergency building a new stadium.
The Parc des Princes extension aims to increase the capacity of the venue up to nearly 60,000 seated people with an estimated cost exceeding €500 million. However, PSG's lack of ownership of the Parc des Princes, where they've played since 1974, hampers their development plans unless they acquire the stadium in full.
The nation's valuation of the Stade de France has been set at €647 million, although that figure does not reflect its real cost as it doesn't factor in the needed additional costs for renovations in order to adapt the stadium for a weekly use at the top-tier of professional sports.