In the first week of January, Al-Khelaifi met in London with the Tottenham chairman Daniel Levy for exploratory conversations, as first reported by CBS. On the agenda was a possible minority investment into Tottenham by Qatar, with percentages of up to 15 per cent initially on the table.
This would not give QSI a two-thirds stake, nor would Al-Khelaifi become a director, which would mean no conflict with UEFA regulations. These conversations are continuing and Al-Khelaifi spent two weeks in London overall.
Tottenham chairman Levy believes Tottenham are worth at least the same as Chelsea, considering the club’s state-of-the-art stadium, training ground, London location and frequent qualification for the Champions League in recent years, meaning that a valuation of around £2.5bn ($3.1bn) — as Chelsea sold for — has been mooted.
Quite how Al-Khelaifi would enjoy being a minority stakeholder in the biggest playground in English football is anyone’s guess but we do know he has often placed himself front and centre of the PSG project. He led negotiations to sign Neymar, Messi and Mbappe, paraded Mbappe on the pitch after securing renewals and has hobnobbed with his peers across the continent in UEFA and ECA circles.
It would require some compromise from Levy and Al-Khelaifi for this relationship to co-exist harmoniously. QSI insists it is committed to PSG in the short-to-medium term but it does seem realistic to speculate that, at some point down the line, the Qataris may seek to dial up a minority investment in a Premier League club and dial down their stake in France, if it is right for both clubs.