Qatar Sports Investments (QSI) has sold a minority equity stake in Paris Saint-Germain (PSG) to US private equity platform Arctos Partners, global law firm DLA Piper confirmed in a statement.

The law firm was the advisor for QSI in the deal, the statement added.

No details of the deals were given. However, the Associated Press reported this month that the company had agreed to sell a 12.5% minority stake to Arctos.

The valuation of the PSG sale is estimated between $4.32 billion and $4.57 billion, the news agency reported, citing two sources.

PSG has won 30 men’s football trophies and last year won a record 11th French Ligue 1 title since its acquisition by the Qatari entity.

(Editing by Seban Scaria seban.scaria@lseg.com)