Paris Saint-Germain have reached an agreement with the city of Paris that will see the Ligue 1 champions remain at the Parc des Princes for another 30 years.
The deal, which still needs to be formally ratified by the Paris St. Germain Administrative Council and the Paris Council, also includes plans for a renovation of the stadium which has been operating in its current capacity since 1972.
"This agreement, which will take the form of a convention with a 30-year duration, will be put to the Paris Saint-Germain Administrative Council and the Paris Council in the coming days for official approval," read a statement on www.psg.fr. "This agreement highlights Paris Saint-Germain's attachment to the club's history and roots, as well as the club's desire to have a football specific venue in the heart of the city.
"In order to offer fans a unique experience in this historic stadium, the club has committed to a very ambitious renovation program that will begin in the coming months. This modernization of the venue will affect all areas of the Parc des Princes and ensure a first-class viewing experience for the ever-increasing number of supporters and excellent working conditions for, amongst others, the media."
The statement continued: "This agreement with the city of Paris is part of the club's ambition to become one of the biggest clubs in Europe and a world-renowned sporting brand, by drawing on the values and notoriety of Paris.
"We are delighted that our renovation plans will be a significant contribution to the organization of Euro 2016 and will enable France and Paris to fulfill its commitments to UEFA."
