Bernard Arnault Negotiates Paris FC Acquisition

Bernard Arnault, the French billionaire and chairman of LVMH, is in exclusive negotiations with energy drink company Red Bull to acquire a controlling stake in Paris FC, a second-tier soccer club. The Arnault family's holding company, Agache, is aiming for a majority stake, while Red Bull seeks a minority interest. Although financial details are not disclosed, the deal is part of a broader trend of billionaires investing in European soccer. The prospective owners plan to invest between €100 to €200 million to enhance Paris FC's competitiveness in French football, challenging the dominance of top-tier club Paris Saint Germain. Current owner Pierre Ferracci is expected to remain in his role as president, facilitating a smooth transition into a new era for the club. This venture follows LVMH's recent sponsorship deal with Formula One, highlighting the family's expanding presence in the sports sector.