New Delhi: France’s richest family, the Arnaults, which own the luxury brand Louis Vuitton under their empire, LVMH, have announced that they want to get into the sporting business with the acquisition of a French football club. The family’s holding company, Agache, said that they will take over the club as majority shareholders, with energy drink brand, Red Bull, coming on board as the minority shareholders.
The Arnaults are looking to take a majority stake in France’s capital city’s club, Paris FC. Putting major wealth behind the Ligue 2 side can see them become actual challengers to another Paris club that have the backing of wealthy owners, Paris Saint Germain (PSG). The statement from Agache didn’t yet reveal the financials behind the deal as it’s still subject to completing the legal and other paperwork.
🚨 OFFICIAL! LVMH and RED BULL announce they are entering into exclusive negotiations with Paris FC to buy the club! 🤑💙🤍
We are witnessing the birth of a future superpower in French football. 🚀 pic.twitter.com/QhAUZFLeKb
— Instant Foot ⚽️ (@lnstantFoot) October 17, 2024
The Arnaults aim to establish both the men’s and women’s teams of Paris FC amongst the elites of world football and are willing to provide the club with the necessary resources. The family wants the country’s capital to be amongst the major cities in the world when it comes to football. The city is a powerhouse in the field of fashion, finance, luxury and entertainment but trails it counterparts when it comes to the beautiful game.
Paris only has one football club in it’s country’s top-flight, the aforementioned PSG, whereas other major cities have multiple. London leads the way with a whopping seven clubs in the Premier League including giants like Arsenal, Chelsea and Spurs. Rome also has two major clubs in AS Roma and Lazio whereas Madrid and it’s suburbs make up five of the clubs in La Liga.
Partnership with Red Bull
Red Bull is gearing up to take over Ligue 2 leaders Paris FC 🇫🇷
Could they soon be challenging their city rivals? 🤨 pic.twitter.com/Kpv89xEONl
— 90min (@90min_Football) October 11, 2024
The Austrian energy drink brand, Red Bull, has become a major player in world football over the last decade or so. They first rose to prominence when MLS club New York Red Bulls signed former Arsenal and Barcelona superstar Thierry Henry to the club. They have since gone on to expand their reach in football and now own multiple clubs under their umbrella. Germany’s RB Leipzig, Austria’s RB Salzburg, Brazil’s Red Bull Brasil and Red Bull Bragantino are under the same umbrella.
They even hold a minority share in English club Leeds United which makes them well versed with modern day football. They’ve recently appointed one of the best managers in game, Jurgen Klopp, as their head of global football, who will look after the sporting side of these clubs. The Arnault family getting into a partnership with red is a win-win deal for both parties as Red Bull gets to expand it’s multi-club model and the Arnault family get Red Bull as their sporting advisor.
Bernard Arnault has a net worth of around €167 billion which puts him near the top of Forbes’ list of the richest people in the world. His son, Antoine Arnault, will the be family’s representative on Paris FC’s board. He had encouraging words to say about this proposed deal, stating, “Football has long been a great passion for us. We are very hopeful that, gradually, we will together write a new and exceptional chapter in French football history.”
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