Imagine being as pig-headed as you
Here are some numbers, the jump in commercial revenue from 2009 to 2015:
Man United - 66m to 196m
Man City - 18m to
175m
Liverpool - 60m to 116m
Chelsea - 50m to 108m
Arsenal - 48m to 103m
For comparison some other top clubs in Europe's commercial revenue in 2015: Barcelona £186m, Real Madrid £188m, Bayern Munich £212m,
PSG £226m
Nothing dodgy here at all folks, Man City's revenue is on par with behemoths like Barcelona, Bayern, Madrid and United in space of 6 years on top of 2 title wins. PSG are actually ahead of these giants because of 3 title wins on the trot
I really question sanity of some who genuinely believe all these sponsorships are a result of organic growth.
One can clearly view part of the QTA contract as far excessive and unrealistic but the context surrounding PSG cannot be forgotten.
This was a club from the most visited city in the world which had no viable commercial/marketing strategy linked to this very status and attractivity. The stadium atmosphere was incredible to live (really, far far far away from the dull ENglish stadiums) but somehow agressive with a few violence issues and a monolothic fanbase that needed to evolve to be able to welcome a far more diverse public. PSG has done a lot on the commercial and branding side, nationally and globally which also explains why they now top 100M in ticketing revenues in an improved stadium with more security and a better fan experience. Same goes with commercial revenues, you're not the same brand when you've become a random French team with players like Hoarau, Rothen, Bourillon and so on, and when you get players like Ibrahimovic, Beckham, Pastore, Cavani, Neymar, M'Bappé, Alves, Buffon...
I'm also pretty sure that PSG will drop most of their Qatari / middle east sponsors and without trouble. Emirates currently pays 25/30Me per year for the shirt, PSG are looking for a new sponsor for at least 60Me. Nike contract comes to an end too and PSG will get far more than the current 20Me per year, they already have done a great coup by tying an exclusive sponsorship with Jordan for 3 years that still allows them to add another brand, presumably keep Nike with a huge yearly increase. They are slowly coming into Asia and signed with Desports agency for 20Me per year with possible extra bonuses.
The weird thing was actually that Paris had a very low financial valuation and commercial capacity until more recent years. No one is to say that they can cut the gap from Real or Man Utd in 6 months but they have a lot of traction which is not a surprise. Full stadium capacity, French TV rights finally exploding, lot of commercial/branding work, global stars endorsing the PSG brand even if among others, or at least showing publicly at the stadium or with the shirt (Steph Curry, Lebron James, Gary Payton, Jimmy Butler, Ronaldo, Justin Timberlake, Rihana, Beyonce, Jay Z, Car Lewis, Russell Wilsson, Julia Roberts, Kendal Jenner and Gigi Hadid, Nadal, Di Caprio, Michael Jordan and so on), overseas tournaments, etc. They are also building a new training centre which will help their bookings and they wand to improve and rebuild partly their stadium which will boost revenues again. I think having to drop Qatar revenue will be one of the best things for them in the future, they might suffer one year or two, they will sell again mostly and buy scarcely... but in a few years, it will be a diferent financial story. Like Man Utd who is now barely the shadow of its former football self (shit play, no results, one Europea League to ease the sufferings), when you become a global entertainment brand no matter the results or the facts, you enter a new financial world of growth and hyper revenues that will come for PSG too.
Paris is what it is a city, nothing can prevent PSG from becoming such commercially if they act wisely to grow their baseline without Qatar sponsorship or at least very little.