France’s richest family, the Arnaults, to acquire second-division football club Paris FC

The Arnault family, France’s wealthiest and the force behind luxury empire LVMH, has announced plans to acquire a French football club.

Paris FC, currently in the second-division, is set for a major shake-up with its acquisition by the Arnault family.

According to a statement from the family’s holding company, Agache, it will become the company’s majority shareholder. Meanwhile, energy drink company Red Bull is expected to join as minority shareholder.

Red Bull, which has invested in several other football clubs, will primarily be as a sporting advertiser, while Agache plans to leverage its entrepreneurial vision and expertise to drive the club’s long-term economic development and brand influence.

Although the acquisition figures have yet to be disclosed, with the deal still pending completion, the family has assured that it intends to provide “the necessary resources” and wants to “permanently establish the men’s and women’s teams along the elite of French football and within the hearts of the Parisians.”

Antoine Arnault, son of LVMH Chairman Bernard Arnault, will represent the family on the Paris FC board.

He remarked that football has always been a great passion for the family. “We are very hopeful that, gradually, we will together write a new exceptional chapter in French football history, without setting any specific objectives at this stage,” he said.