French billionaire and LVMH (OTCPK:LVMHF) chairman Bernard Arnault has partnered with Austrian energy drinks company Red Bull to buy a majority stake in iconic soccer club Paris FC. Agache, the holding company of the Arnault family,

French billionaire and LVMH chairman Bernard Arnault has partnered with Red Bull to enter exclusive negotiations over buying Paris FC. Agache, the holding company of France’s richest man Arnault, is in discussions over purchasing a majority stake in the French club.

France’s capital city might finally be about to have a second major soccer club, and a challenger to Paris Saint-Germain (PSG), with a takeover of Paris FC by the country’s richest family along with energy drinks giant Red Bull expected to be announced in the coming days.

France’s richest family, the Arnaults of luxury empire LVMH, announced the planned purchase of second-division soccer club Paris FC on Thursday and ambitions to establish it in the top flight. It’s a major shakeup for soccer in France,

France's wealthiest family, the Arnaults, owners of the luxury conglomerate LVMH, revealed on Thursday their intention to purchase

French billionaire and LVMH chairman Bernard Arnault has teamed up with energy drinks company Red Bull to buy a controlling stake in French second-tier soccer club Paris FC, the Arnault family office said on Thursday.

Agache, the holding company of LVMH founder and Chief Executive Bernard Arnault’s family, is in exclusive talks to buy a majority stake in storied soccer club Paris FC.

Since Paris St Germain were taken over by Qatar Sports Investments just over a decade ago the club has become a symbol of global sports ambition and highlighted the absence of another top-tier club in the city,

The Arnault family and Red Bull have entered exclusive negotiations with Paris FC for the purchase of the Ligue 2 side according to a press release sent by Financière Agache (a subsidiary holding