Qatar instruct PSG to 'aggressively reduce' wage bill as Manchester United takeover claim made
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The Qatari owners of Paris Saint-Germain have reportedly ordered Paris Saint-Germain to reduce their wage bill - with the request said to be unrelated to Manchester United.
Qatari businessman Sheikh Jassim bin Hamad al-Thani, chairman of one of Qatar's biggest banks, has submitted a bid to buy United through his foundation.
The bid has been submitted by a separate entity to Qatar Sports Investments, who control PSG.
The Times claim that QSI want PSG to reduce their wage bill by 30 per cent this summer, due to a UEFA Financial Fair Play (FFP) settlement.
In January, it was announced (via The Athletic) that the club's annual wage bill of £645 million was the record highest for a professional club.
A drop of 30 per cent would reduce that figure to around £450 million, meaning star players will inevitably have to leave the club as a result.
The Times describe this as an attempt to 'aggressively reduce' the wage budget. The link to the UEFA settlement is that PSG have been ordered to reduce their deficits yearly over a three-year period, with potential punishments for failing to do so including a possible ban on Champions League participation.
Man Utd takeover: What is the current state of play?
Two bids for United have been publicly confirmed, with one of those belonging to Sheikh Jassim. The other belongs to Sir Jim Ratcliffe and Ineos.
One potential hurdle for the Qatari bid to jump over appeared to be UEFA regulations on multi-club ownership, with two clubs owned by the same entity barred from playing in a UEFA competition.
But a source has told The Telegraph that Sheikh Jassim would not have placed a bid if he was not "100 per cent convinced" that the takeover would comply with regulations. In addition, those close to the bid have dismissed claims that it is funded by the Qatar Investment Authority (QIA), with QIA the largest shareholder in the Qatar Islamic Bank (QIB) that Sheikh Jassim chairs (as per Market Screener).
A source said: "From our side, we're very confident this would be fully compliant with all regulations and is why Sheikh Jassim is going for it.
"On the point of the QIA and QSI, there is absolutely no ownership operationally, legally or from an advisory perspective. If that would have been the case he would not have gone for this bid. He is potentially investing in the club as a private individual."