Bernard Arnault’s family is reportedly nearing the purchase of a majority stake in second-tier football club Paris FC, investing alongside Red Bull, as the billionaire clan diversifies into sports.
Per Bloomberg, the Arnault family will initially take a stake of about 55% through its holding company Agache, before buying out club chairman Pierre Ferracci’s 30% holding in 2027. Red Bull will acquire a stake of about 15% percent, the business newswire quotes people close to the developments as having said.
Paris FC, founded in 1972, is currently the leader of France’s Ligue 2, and in pole position for promotion next season to Ligue 1.
The move to invest was a family decision involving Bernard Arnault and his five children, who all work at LVMH Moët Hennessy Louis Vuitton SE, the luxury group he controls, Bloomberg further reports.
French sports newspaper L’Equipe first reported the news on Wednesday. A representative for the Arnault family declined to comment. Red Bull spokespersons also declined comment.
The news comes amid a recent foray by LVMH into sports sponsorships. Last week, the group signed a 10-year deal with Formula 1 worth potentially $1 billion, replacing Rolex SA. LVMH was also a major sponsor of the Olympic and Paralympic Games held in Paris over the summer.
