Breaking News: LVMH’s Arnault Family Set to Acquire Majority Stake in Paris FC
In a historic move, the Arnault family, owners of the LVMH luxury goods conglomerate, are in exclusive negotiations to buy a controlling stake in French football club Paris FC. According to reports, the family will acquire a 55% stake in the club, with energy drinks giant Red Bull securing a 15% minority shareholding.
The acquisition is a significant development in French football, as the Arnault family aims to transform Paris FC into one of the country’s leading sides. Paris FC has not been in the top flight of French football since 1979 but is currently top of Ligue 2 and hoping to win promotion this season.
"We are very hopeful that, gradually, we will together write a new and exceptional chapter in French football history," said Antoine Arnault, the son of Bernard Arnault, who will represent Agache on the board.
Red Bull’s expertise is expected to play a significant role in transforming Paris FC into a leading club in France and Europe. The energy drinks giant already has a large stable of football clubs, including Champions League regulars RB Leipzig, Red Bull Salzburg, and New York Red Bulls. Red Bull’s director general, Oliver Mintzlaff, stated, "We want to offer our experience and know-how to open up new sporting horizons for Paris FC."
The acquisition also signals a new venture for the Arnault family, who have traditionally been associated with luxury brands such as Louis Vuitton, Dior, and champagne producer Moet. Moving into football marks a significant expansion of their interests.
Speaking about the acquisition, Antoine Arnault revealed that there are no specific objectives at this stage, adding, "Sport sometimes holds many surprises."
Development Plan for Paris FC
According to reports, the development plan for Paris FC includes:
- Transforming the men’s team: The aim is to turn Paris FC into regular challengers to Paris Saint-Germain in the domestic men’s league.
- Women’s team: The women’s team featured in the Champions League last season, and the aim is to turn them into regular challengers to Lyon and PSG in the domestic women’s league.
- Economic development: The plan includes providing the necessary resources to pursue the club’s economic development.
Timeline for the Acquisition
The acquisition is expected to be completed in phases, with the Arnault family purchasing a 55% stake in the club initially. Pierre Ferracci, the current owner, will maintain a 30% stake before handing it over in 2027, when the Arnault family share will jump to 85%.
Red Bull’s Role
Red Bull’s expertise and know-how will play a significant role in transforming Paris FC into a leading club in France and Europe. The energy drinks giant will acquire a 15% minority shareholding and provide support to the club.
Stay tuned for further updates on this breaking news story.
Report by Media Talk Africa
