PSG vows to press on after losing out on Beckham

PARIS - David Beckham may have elected not to sign up for the Paris Saint-Germain revolution, but new coach Carlo Ancelotti's goal - to turn PSG into one of the world's biggest clubs - remains the same.

PSG finally admitted defeat in its pursuit of the former England captain on Tuesday, bringing to an end months of speculation and disappointing fans encouraged by reports in the French media that the deal was "95 percent" complete.

Beckham's about-face represents something of a public relations embarrassment for Europe's newest big spender, but the wealth of owners Qatar Sports Investments (QSI) means they are unlikely to dally for long in the transfer market.