November 23 – French second tier club Paris FC, who took a €5 million investment from the Bahrani royal family last year, has added a new investor in British-Sri Lankan entrepreneur Allirajah Subaskaran.
The Bahrain investment was for 20% of the club’s equity and it is believed that Subaskaran’s investment is for a similar amount though no value has been given for the investment.
Subaskaran is the founder and chair of the Lyca group that includes Lyca Mobile. His investment in Paris FC is being made through BRI Sports Holdings, which he wholly owns. The company will have a board position at the club.
Paris FC are currently fifth in the table with 27 points, six shy of leaders Toulouse after 16 matches. Paris FC also have a fast developing women’s team competing in France’s Division 1 Féminine.
Pierre Ferracci, chairman of Paris FC, said that the investment will further strengthen the club’s finances and its international appeal as it pushes for Ligue 1 status.
“I am very delighted to welcome Allirajah Subaskaran to the Club. There is no doubt that this investment will help Paris FC to achieve its ambitious objectives, and is an opportunity to train a new wave of young international talent,” said Ferracci.
Subaskaran via Lyca Mobile has been an official partner of English Premier League side West Ham United since 2012, including supporting the West Ham United Foundation on youth-focused initiatives. He is also the owner of the Jaffna Kings franchise in the Sri Lanka Premier League professional Twenty20 cricket competition.
“Paris FC is a highly ambitious club that is rapidly putting in place the investment and infrastructure required to realise the club’s potential and propel it to the top table of French men’s football,” said Subaskaran.
“Expertly led by president Pierre Ferracci, Paris FC is expanding its resources on all fronts with the stated aim of promoting to Ligue 1 within the next two years and to continue to help its women’s side thrive. Paris holds a special place in my heart having lived in the city when I first came to Europe, and I’m thrilled to play a part in helping Paris FC and its fans achieve their dreams.”
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