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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