French Billionaire Arnault and Red Bull Set Sights on Paris FC Takeover

French billionaire Bernard Arnault and Red Bull are in negotiations to acquire a controlling stake in Paris FC, a French second-tier soccer club. Arnault and Red Bull are seeking to expand their influence in sports following LVMH's recent sponsorship ventures. Financial details of the deal remain undisclosed.

French billionaire and LVMH chairman, Bernard Arnault, has joined forces with Red Bull to negotiate a controlling stake in the French soccer club, Paris FC, according to announcements made by the Arnault family office on Thursday.

Agache, the Arnault family's holding entity, revealed it is entering exclusive negotiations with the club's current owner, Pierre Ferracci, to procure a majority stake, while Red Bull intends to secure a minority investment. Specific financial terms of the proposed acquisition have not been disclosed.

This potential acquisition marks Arnault's latest venture in the sports domain, reinforcing LVMH's presence in the sector after a recent sponsorship deal with Formula One and the Paris Olympics, thereby spotlighting iconic brands such as Louis Vuitton and Moet & Chandon on an international stage.

(With inputs from agencies.)