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.
PARIS — France’s richest family, the Arnaults of luxury empire LVMH, announced the planned purchase of second-division soccer club Paris FC on Thursday.
A statement from the Arnault family's holding company, Agache, said it will become the club's majority shareholder. Energy drink giant Red Bull will come aboard with a minority stake. More broadly, the takeover of the club with a distinctive blue-and-white Eiffel Tower logo could help the French capital build on the sporting momentum of the Paris Olympics and put an end to its place as something of an oddball in the European soccer landscape.
The former club of superstar Kylian Mbappe is a 12-time champion of Ligue 1, with 10 of those titles in France’s top league coming after gas-rich Qatar began injecting its wealth into the club it purchased in 2011.
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