
Soccer-PSG inspired by Los Angeles as it sets out to build new stadium
Paris St Germain CEO Victoriano Melero and Adrien Frier, the French consul-general in Los Angeles, pose for a picture in Beverly Hills, U.S., June 12, 2025. REUTERS/Rory Carroll
LOS ANGELES (Reuters) -Paris St Germain is drawing inspiration from the success of new state-of-the-art venues in Los Angeles as the Champions League title winners begin the process of building a new stadium for the team, CEO Victoriano Melero said.
PSG has outgrown the 48,000-capacity Parc des Princes, and team officials will spend a year studying potential sites in Massy and Poissy with an eye toward offering a variety of entertainment options, Melero said.
"The next challenge is a new stadium," Melero told Reuters in Los Angeles ahead of PSG's Club World Cup match on Sunday in Pasadena.
"For one year we're going to go into an analysis and make a choice for our future, and we're inspired by what is going on in the U.S. with sports facilities," he said.
"One example here is SoFi Stadium. It's incredible and much more than a sports facility - it really is part of entertainment and shows. So that is what we really want to push to diversify our revenue."
SoFi Stadium, a technological marvel that opened in 2020, is home to the NFL's Rams and Chargers and has hosted concerts by artists like Taylor Swift and Beyonce. It will play a key role in next summer's World Cup and the 2028 Los Angeles Olympics.
The $5 billion stadium is located in Hollywood Park, a growing commercial and residential area. The 70,000-capacity indoor-outdoor stadium sits next to Intuit Dome, the high-tech NBA arena that opened last year.
PSG is looking at Massy, south of Paris, and Poissy, west of the French capital, as potential sites for a new stadium. The team will play Parc des Princes for the foreseeable future while the new stadium is built.
U.S. fans and investors have played a vital role in the stunning success of the club both on and off the field, said Adrien Frier, the French consul-general in Los Angeles.
"Paris St Germain is what you would call in the tech sector a unicorn, and it's a unicorn that has some American blood in it," he said at a reception honoring the team in Beverly Hills, where the Champions League trophy was on display.
PSG has an estimated five million fans in the U.S. and has benefited from its high-profile partnership with Nike's iconic Air Jordan brand.
U.S.-based Arctos Partners holds 12.5% of the shares of the team, with majority owner Qatar Sports Investments owning the remaining 87.5% for a club that is valued at $4.4 billion.
Melero said the team's ambitions are only growing.
"We wrote the story of the club with that cup," he said, gesturing toward the gleaming trophy.
"And right now the next move is to write the story of football with this very young team."
(Reporting by Rory Carroll in Los Angeles; Editing by William Mallard)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
an hour ago
- The Star
The truth about coverage: Is pet insurance worth paying for?
SINGAPORE: When the Lim family's pet beagle, Pepper, was four, they decided to insure her as she had liver issues. 'We knew it would be challenging or expensive if we got her insured after her condition worsened, so we had to be quick about it,' said administrative executive Felicia Lim, 57. 'There were limited policies provided by the insurance company, so I just went with what the agent recommended, which was the basic plan.' Today, at eight years old, Pepper makes frequent and costly visits to the vet, undergoing regular blood tests and taking long-term medication. When Mrs Lim bought insurance for Pepper, there was only one company – Liberty Insurance – that offered to insure pet dogs. On the advice of her insurance agent, she chose the most basic plan, which provides partial coverage of medical expenses such as surgical and non-surgical treatments, for an annual premium of almost $400. 'We were not able to predict if her condition will worsen as she ages, so having her insured may help alleviate some financial pressure with future medical care,' Mrs Lim said, adding that the family is worried the insurance coverage might not be enough. Under the Liberty PetCare plan, the claim limit for veterinary expenses is $700 for non-surgical treatment and $2,500 for surgical treatment, according to the insurer's website. With more people treating their pets like family members, animal medical treatment expenses can soar, just like healthcare for humans. Expensive diagnostic scans, surgery and cancer treatments are routinely offered and accepted, escalating costs. In one case, a couple emptied their savings and sold their Housing Board flat in 2023 to clear the credit card loans they took out for their dog's medical bills, but the French bulldog did not survive. To mitigate the burden of unexpected veterinary expenses, pet owners are turning to insurance. Today, there are six insurers – including Income and AIA – offering coverage for dogs and cats. Most help to cover fees for veterinary services such as consultations, medication, surgery and hospitalisation. One or two policies offer only lump-sum critical illness coverage, treatment after accidents, and cremation or burial expenses if the animal dies because of an accident. A few plans cover only accidental injury and third-party liability, which applies when the pet causes injury to someone or damage to someone else's property. Silversky Protect, underwritten by MSIG, was the latest to join the furry fray, in December 2024. Like the other pet insurance plans, Silversky Protect offers pet owners essential coverage that typically includes hospitalisation, surgery, vet visits and prescription medication for medical conditions arising from accidents and illnesses. It also provides coverage for post-surgery treatment and third-party liability, according to the MSIG website. For instance, policyholders can choose their preferred veterinary clinic for treatment, and coverage for hospitalisation and surgery goes up to $13,000. No clinical examination is required to qualify for coverage, and a no-claim discount of up to 15 per cent is available, based on the website. One of the highest surgical payouts is from Tiq by Etiqa, which offers up to $15,000 for surgical expenses under its premier-tier plan. Although other insurers may offer optional coverage such as for chemotherapy or pet boarding, their base surgical coverage might not be as high as Tiq's. When buying pet insurance, there is no one-size-fits-all policy, said Assistant Professor Wei Pengyu from the Division of Banking and Finance at Nanyang Technological University's Nanyang Business School. 'Each insurer offers a different mix of coverage and premiums. Some offer better protection, such as lifetime coverage, low deductibles and high annual limits, but may fall short on affordability,' he said. 'A good policy should strike a balance between coverage and affordability, and have clear terms and a smooth claims process. What's 'better' depends on the pet's care needs and the owner's budget and expectations.' Pet owners should consider what they want from a policy, and how much they can afford to pay for the coverage. For instance, most policies in Singapore cover pets up to nine years old, but some continue coverage beyond this age – sometimes with revised terms or additional premiums. Lifelong coverage may seem attractive, 'especially as healthcare costs typically spike in a pet's later years when chronic conditions emerge', noted Prof Wei. But plans with lifetime renewal are more expensive and may impose increasing deductibles or co-payments as the pet ages. They may also impose more exclusions and lower claim limits as the pet gets older, he said. The real value of a pet insurance plan lies in its coverage during a pet's younger and middle years, said Dr Lee Yen Teik, a senior lecturer in the Department of Finance at the NUS Business School. This is primarily because premiums tend to be lower when a pet is in that age range, and pre-existing conditions are less likely to be excluded. As pets age, their risk of developing health issues increases, leading to higher insurance costs and potentially limited coverage options, much like what is seen in human health insurance. Pet owners should also look at what a policy excludes. For instance, congenital conditions, which may surface only after the pet has been adopted, can incur large, unexpected bills. Some policies cover congenital conditions, while others do not. 'However, inclusion of congenital cover usually comes at a higher premium or with required vet assessments. While it is a plus, it's not necessarily the right choice for everyone. It is the trade-off between coverage and affordability,' Prof Wei said. Dr Lee said the catch here is that the policies 'may require a 12-month waiting period or a vet check-up before coverage for conditions like cherry eye or hip dysplasia actually starts'. The waiting period ensures that a condition does not already exist at the time of enrolment, which will help insurers mitigate the risk of covering pre-existing illnesses. Cherry eye is a condition in which a dog's tear gland in the third eyelid slips out of place, appearing as a red, swollen lump in the corner of the eye. Hip dysplasia, which is more common in larger breeds such as labradors, occurs when the hip joint is loose or malformed, leading to pain, inflammation and arthritis over time. 'If your pet develops the issue during that wait, it likely would not be covered. So, if you have a breed prone to such issues, enrolling them very young is absolutely key to getting that protection,' Dr Lee said. Prof Wei advised pet owners to enrol early, as many plans stop accepting new applicants once pets reach nine years old. He also urged owners to read the terms carefully to ensure that the policy coverage matches their pet's potential vet care needs. If the budget allows, they should choose lifetime and congenital cover, which provides more robust protection. Dr Lee advised pet owners not to be swayed by high payouts alone. 'A $15,000 overall limit means little if the specific conditions your pet's breed is prone to, such as hip dysplasia in labradors, are excluded, have tiny sub-limits or long waiting periods,' he said. 'The best policy is one that actually covers your pet's most likely expensive health risks, not just the one with the biggest headline figure.' He added: 'Don't just grab the cheapest or most advertised plan. Think of choosing pet insurance like careful matchmaking for your pet's specific needs.' Sometimes, a policy with a lower premium that covers only critical illnesses or accidents may be the best option for a pet owner. 'The hard truth is that major vet bills in Singapore for things like cancer treatment or complex surgery can easily hit thousands, or much more. Unlike your own health, there's no MediSave or government subsidy for your pet,' Dr Lee said. 'A modest annual premium can be the difference between getting the best care and facing a devastating financial decision. It's for the big, unexpected disasters, not the routine check-up.' - The Straits Times/ANN


The Star
an hour ago
- The Star
Cricket-World Test Championship format needs revamping despite riveting final
Cricket - 2025 ICC World Test Championship Final - South Africa v Australia - Lord's Cricket Ground, London, Britain - June 14, 2025 South Africa's Keshav Maharaj shakes hands with fans in the stands as a giant screen displays the message of 'Champions 2025' after South Africa won the ICC World Test Championship final Action Images via Reuters/Andrew Boyers LONDON (Reuters) -A riveting World Test Championship final between Australia and South Africa went a long way to boost the sagging credentials of the five-day game, but the format of the competition is in need of a revamp, according to many of the game's top observers. South Africa beat Australia by five wickets at lunch on the fourth day of a fluctuating contest at Lord's in which the bowlers dominated the opening two days. A total of 24 wickets were taken, but the tables were turned as wickets turned benign and the batsmen changed the course of the match. It was classic test cricket, as good as the excitement from any limited overs contest, but the overall WTC is a bewildering competition, devoid of uniformity and an unbalanced points system. There was much criticism of how South Africa managed to reach the final without playing either Australia and England in the two-year qualifying period. "It's very hard for the average cricket fan to understand who's the best team in the world and how exactly the top two teams make it to the final," said former England captain Michael Vaughan, now a television pundit. The two finalists are decided by a table of test results, with points awarded for wins and draws. The pair with the highest percentage of points available to them advance to the final, which in 2027 could again be at Lord's or in India, according to International Cricket Council officials. But there was a major discrepancy in South Africa playing only 12 tests compared to 19 for Australia and India, and even more by England (22). "I can't remember if I've ever even given any real time to be specifically thinking about the World Test Championship to be honest because it's utterly confusing," added England captain Ben Stokes. Countries are free to decide how many tests they want to play, and in South Africa's case, there is much less of an appetite for test cricket because they lose money. In the next cycle, which starts on Tuesday when Bangladesh begin a two-test series in Sri Lanka, the new champions will play 14 tests, this time including three test series against each of Australia and England but only two against India. Five test series are now only the preserve of contests between Australia, England, and India. "The fixture list is uneven; not everyone plays everyone else, and some have an easier ride than others," wrote Michael Atherton last week. "Everyone knows the WTC in its present guise is flawed, and that solutions, with so many competing interests, are fiendishly difficult," added the former England skipper. (Editing by Christian Radnedge)


New Straits Times
2 hours ago
- New Straits Times
Ferrari heading for a hat-trick at Le Mans
SARTHE, France: Defending champions Ferrari were heading for a third straight win at the 24 Hours of Le Mans, after leading the 93rd edition of the race through the night and into today at the Sarthe circuit. With six hours remaining, the number 51 factory 499P car of 2023 winners Alessandro Pier Guidi, Antonio Giovinazzi and James Calado led the number 83 AF Corse entry of Robert Kubica, Yifei Yi and Philip Hanson by some six seconds. The number 50 factory car crewed by last year's winners Antonio Fuoco, Nicklas Nielsen and Miguel Molina completed the lockout of the podium places. Porsche Penske's number six hypercar, which had led at the halfway stage after a safety car period, was fourth and Toyota's number eight car fifth. With six hours being the regular length of a World Endurance Championship race, and temperatures rising, there was however still plenty of room for late drama. The number 51 Ferrari had already fought back from eighth place after a puncture, a five second penalty and 20 second stop and go punishment to retake the lead by dawn. Swiss tennis great Roger Federer had waved the French flag to get the race underway on Saturday afternoon, with Porsche immediately seizing the lead from pole-sitters Cadillac. Cadillac had swept the front row in Thursday's qualifying but any advantage was short-lived as Porsche Penske's Julien Andlauer slipstreamed into the lead from third on the grid before the first chicane on the opening lap. "We're trying to hang in there, but it's tough out on track to be honest," said Sebastien Bourdais, who shares the number 38 Cadillac with 2009 Formula One champion Jenson Button and was in ninth place. "We're struggling with tyre degradation. And we're struggling with the balance." Ferrari worked their way to the front and Fuoco took the lead in the third hour on the run from Mulsanne to Indianapolis with the three Ferraris running 1-2-3 at the quarter distance. The BMW driven by Italy's MotoGP great Valentino Rossi had to retire in the LMGT3 category. The race at the circuit in north-west France features 62 cars shared by 186 drivers from 34 countries, and is the fourth round of the World Endurance Championship, with 21 hypercars in the battle for overall victory. Organisers have put the total weekend attendance at more than 300,000 spectators.