Of course they are state backed. The money has been inherited from the state and the take over has gotten an "OK" from the Thani Family of what is cool to spend money on. When things are not - then you get put in the back.You think Malaga, who are in severe financial difficulty, are state backed ?!
Of course not - in fact QSI (who are the state entity who own PSG) are looking to buy them
It really is dodgy stereotyping to put anyone who happens to come from Qatar in the same boat
Statebacked is not just something I think. The royal family of Qatar do all business together. It starts with the family, it ends with the family. It's not a free country as you might think. It's synchronised in both good and bad ways and if you don't believe in that, then you are just really naive and blue-eyed.