Mexico City /
The family of Bernard Arnault LVMH has partnered with the drink energizing, Red Bullfor take charge of Paris FC, of the second division of French football, while the luxury billionaire expands his participation in the sport.
Arnault and his five adult children, who have operational roles within the group of luxury, will become majority shareholders through one of his companies holding together with the beverage manufacturer Red Bull sports shoes, according to two people with direct knowledge of the agreement.
According to the terms of the agreement, which still could change, according to sources, the president and majority shareholder of Paris FC, Pierre Ferracci will retain a stake 30 percent until 2027, the year in which he plans to retire of the team. The Arnault family will acquire a 55 percent stake in the club until that you can buy the rest of the shares de Ferraci in a few years, while Red Bull will acquire 15 percent.
The sports media L’Équipe was the first in reporting on the agreement. The family Arnault and LVMH declined to comment. Ferracci and Red Bull did not respond immediate response to requests for comment. The negotiations on Arnault’s part were directed by Antoine, the eldest son of Arnault, and Frédéric, the second youngest.
Antoine directs group communication luxury and He is the CEO of the holding company Christian Dior SE. Frédéric heads the division of LVMH watchmaking and is deputy CEO of Financière Agache, another family holding company.
Last week, LVMH announced a 10-year agreement with Formula 1 and was a prominent sponsor of the Games Paris Olympics this summer. The initiatives They are part of a broader effort of luxury groups for link up with sports teams, franchises and stars in their search to connect with an audience increasingly broader.
Red Bull, which markets its energy drinks through sport, it has two teams Formula 1 racing and various clubs soccer. The Austrian-based company on Wednesday he hired the former coach of the Liverpool Jurgen Kloppto direct your network of football clubs, his first job since who left the English club in the summer.
Red Bull acquired a minority stake in the second division football club English Leeds United in May, yesjoining to a portfolio of equipment in the United States, Brazil, Austria and Germany.
According to Bloomberg, Bernard Arnault, 75 years and whose family owns 48 percent of LVMH, has an estimated personal assets of one hundred and ninety-one thousand million dollars (mdd). The income of Red Bull amounted to more than eleven thousand four hundred and eighty-five million dollars in 2023, 9 percent more than the previous year.
An acquisition would also be a good news for French footballafter the crash of the value of their media rights. Unlike London, Paris is dominated for a single club. Paris Saint-Germain, owned by Qatar Sports Investments, a state-backed company, has won the top French division six times in the last seven league seasons.
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