France’s richest family shaking up soccer with planned purchase of second-tier Paris FC

By The Associated Press on October 17, 2024.

PARIS (AP) – France’s richest family, the Arnaults of luxury empire LVMH, announced the planned purchase of second-division soccer club Paris FC on Thursday.

It’s a major shakeup for the sport in France, putting vast wealth behind a potential challenger to the dominant French team of recent years, Qatar-funded Paris Saint-Germain.

A statement from the Arnault family’s holding company, Agache, said it will become the club’s majority shareholder, with energy drink giant Red Bull coming aboard with a minority stake.

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AP soccer: https://apnews.com/apf-soccer

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