Can Paris Saint-Germain ever find the right man?

PARIS SAINT-GERMAIN start 2022-23 season with a new coach, suggesting it is very much “business as usual” for the French champions. They are bedding-in Christoph Galtier with a trip to Japan before they move on to Tel Aviv to play the French Super Cup game against Nantes. Unlike some of their managerial appointments, Galtier’s hiring seems a little low key, but he won the Ligue 1 title in 2021 with Lille, which deserves respect. A new era for the club? The comment made by PSG president Nasser Al-Khelaifi hinted at a new direction: “Today we must be realistic; we don’t want flashy, bling-bling any more, it’s the end of glitter.”

An interesting statement from PSG, but they still refuse to see that their problems are of their own making: constantly changing coaches; refusal to build for the longer-term; and a penchant for flashy, big-name players. PSG have had Zlatan Ibrahimovic, Neymar, Lionel Messi and Kylian Mbappé, three of which are in their current squad, and they still cannot win the trophy they crave – the Champions League. A total of € 1.3 billion has been spent over the past decade, and they still trail Real Madrid, Bayern Munich and even Chelsea. It is the players that are mostly to blame for PSG’s failure to win the Champions League.

They’ve been through Carlo Ancelotti, Unai Emery, Thomas Tuchel and Mauricio Pochettino, all of whom were considered to be among Europe’s most sought-after coaches. Of those that have not been hired yet, it is difficult to see Pep Guardiola or Jürgen Klopp, or even Antonio Conte, moving to PSG. The only other elite boss who could be considered is a late-career José Mourinho. Being manager of PSG isn’t necessarily the pinnacle of a career, but it will be well-paid, if only on a short-term basis.

Despite the end of bling-bling (we will wait and see), it is hard to take the comments of Al-Khelaifi with little more than a pinch of salt. Galtier may be the most low profile coach at the club for some time, but his brief will be the same – “make us European champions”. Ligue 1 can be won at a canter, as demonstrated in 2021-22 when they were 15 points ahead of second-placed Marseille, but when PSG come up against Barcelona, Real Madrid or Manchester City, they struggle. That final jump from France to Europe is still eluding them.

And this step is the steepest of all, for every one of PSG’s peers also has the Champions League on their agenda. It is easy to wonder if PSG’s decision-makers really understand the unpredictable nature of football. Success rarely comes instantaneously, coaches need time to build a successful team. Pep Guardiola is still waiting to win the Champions League with Manchester City, but would he get the same amount of time at PSG? Klopp took a few years to win anything with Liverpool, such a timeframe would be seen as unacceptable at PSG. No amount of big names will guarantee success if the team’s blend is not right and it is no use blaming a manager’s style for not getting the best out of iconic figures who have their own approach. A coach is hired because an employer likes his style, so when the very qualities that appealed to a club don’t work with a squad that has been built over several managers, can you really blame him?

PSG’s strategy, from the outside, looks a little cynical and is certainly the epitome of short-termism. A coach comes in, wins the league but goes out of Europe in dramatic fashion and the rumblings start. Within another 12 months, the heir to the hot seat starts to be talked of in the press and by the end of year two, the coach appears to be undermined and on his way out. This has happened frequently, but European failure is not attributable to the coaches so much, but the culture of the club. The latest coach, Pochettino, did no worse than anyone else, with the exception of Tuchel, who took PSG to the Champions League final in 2020, but narrowly lost to Bayern Munich. But, as we are aware, it is easier to offload a manager than a complete squad of players.

PSG have to resist the urge to be seduced by big names, which are costly in terms of finance and also prevent talented young players from coming through. PSG can afford to blood youngsters, can even afford a season of genuine “failure” in favour of a year of development and transition. PSG want to be successful and frankly, their dominance of France has become boring. They also want to be popular and right now, they are far from being the most liked club in Europe, even though their reception in Japan suggests they have a lot of friends in Asia.

Signing Neymar, Messi and Mbappé may demonstrate that PSG have financial muscle, but they also suggest gluttony. How beneficial would it be for PSG to build a squad organically, showing a more considered way for French and indeed European football?

Money can be used to buy the baubles of wealth, but it can also be used to construct something with substance and meaning, and in European football right now, there is a need for a different way, a strategy that can meet the many macro-economic and geo-political problems that exist in the world today. If bling-bling is passe, then show the world that wealth can be used more positively rather than to drive-up wages, escalate transfer fees, hire and fire coaches and continually fuel the star culture of conspicuous consumerism. Ignore the CSR programmes, because they merely make organisations feel better about themselves and their remuneration. The past decade has shown PSG’s model does not really work or guarantee success on a broader scale. PSG can scoop all the domestic prizes they want with a much cheaper and more home-grown team, if they are serious, they will change their ethos and be regarded as trail-blazers rather than frustrated rich kids. As for Galtier, he will probably have the same amount of time as his predecessors, unless PSG’s age of glitter really has ended.

Paris Saint-Germain’s excesses are just too great to be healthy

PARIS Saint-Germain look set to lose Kylian Mbappé this summer to Real Madrid, but the enormous wealth of the French champions means they will surely replace the young striker with another high profile signing. PSG’s financial advantages have brought them a multitude of top names and they currently have Neymar, Lionel Messi and Mbappé, but with their resources, PSG should be winning everything in France and challenging in Europe.

Their wage bill was € 500 million in 2020-21, around one third of the overall Ligue 1 total and more than € 350 million more than the nearest rival, Olympique Lyonnais, whose wages came to € 134 million. In 2020-21, PSG were beaten to the Ligue 1 title by Lille, whose player remuneration was around one sixth of the sum paid to the Parisians’ squad.

PSG’s finances make them the ultimate flat-track bully, but when they compete in the UEFA Champions League, they are found wanting almost every time. PSG’s problems stem from a lack of continuity around the management of the team and a culture of short-termism. Like Chelsea, their squad is a composition of various influences and they also have a penchant for attention-catching signings. Hence, the arrival of Messi and, for some peculiar reason, Sergio Ramos, both players past their prime, but undoubtedly enormously expensive.

The latest report from France’s DNCG (National Directorate of Control & Management), reveals French football was heavily impacted by the covid-19 pandemic in 2020-21. Only three clubs – Dijon, Reims and Saint-Étienne – made a profit and some of the losses were very eye-watering.

PSG’s loss, despite revenues of € 569 million (+2%), was € 225 million, the highest in France by some distance and the third highest in Europe after Barcelona (€ 550 million) and Inter Milan (€ 239 million). After PSG, whose losses climbed by € 100 million, the biggest loss in France was made by Lyon (-€ 109m), Marseille (-€ 76m) and Bordeaux (-€ 67m).

Like all French clubs, PSG’s matchday income was almost wiped out, but their bottom line figure was also influenced by a big reduction were in player trading which was down from a € 50 million profit to a near € 5 million loss. Profits on player sales are less important to PSG than rivals Monaco, Lyon and Lille, for obvious reasons, but there is clearly upside for the club if they choose to adopt a more commercial approach to transfers.

The club also incurred an increase in their already huge player costs. PSG’s wages were up by 21% to € 503 million in 2020-21, a wage-to-income of 88%.  According to L’Equipe, of the top 20 earners in French football, 18 are from PSG, with only Monaco’s Wissam Ben Yedder and Cesc Fabregas making up the list. The DNCG is keen to control the excesses of PSG, needless to say, and aims to stop any club having a wage bill of more than 70% of income. Another measure in progress is the restriction of debt, forbidding any club from having debt greater than share capital.

Broadcasting recovered in 2020-21 after the collapse of Ligue 1’s deal with Mediapro. Overall, TV accounts for 43% ( € 835 millon) of Ligue 1’s income and PSG generated over £ 200 million from this stream, a 54% rise on 2019-20. PSG have become very proficient commercially and their income totalled € 337 million. However, they are striving to push the envelope even further and hoped the acquisition of Messi would provide a significant boost.

Ligue 1’s total income was € 1.6 billion, but € 1.2 billion was paid out in wages and another € 119 million to agents and intermediaries. The league lost € 645 million, the total for Ligue 1 and 2 was a deficit of € 685 million.

PSG could be at the start of a new phase. The restrictions to be implemented will make it more difficult for the club to leverage its financial power and at some point, they will have to look at the way they build their teams. There’s also a good chance manager Mauricio Pochettino will move on and, with Mbappé and Ángel Di María certainly leaving, along with the possible departure of Neymar, times may be changing in Paris.

At the same time, France needs greater competition to improve the overall quality of Ligue 1. The country produces very good players on a regular basis, the national team are world champions and UEFA Nations League winners, but PSG are not always pushed enough. They’re still waiting for that first Champions League title, after all.