KICK OFF: Agache, the holding group controled by the family of luxury magnate Bernard Arnault, announced Thursday it had entered into exclusive negotiations to buy a majority stake in the Paris FC soccer club.
As previously reported, Red Bull is also in negotiations for a minority stake. The terms of the deals and ownership percentages at stake were not disclosed.
Founded in 1969, the Paris Football Club (also known as the Paris FC or PFC), is owned by French businessman Pierre Ferracci, who is set to remain as the club’s president and among its shareholders.
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In addition to Ferracci’s family holding, investors in Paris FC include Infinity Sports Venture, the investment vehicle of Bahrain’s royal family; Sports Bridges Venture, and BRI Sports Holding, the investment vehicle of telecoms business magnate Allirajah Subaskaran.
According to sources with knowledge of the deal, Agache will acquire a 55 percent stake, while Red Bull will buy 15 percent.
Ferracci would then retain 30 percent. Although the businessman, who told French sports media he wants to retire by the end of the 2026-27 season, is expected to sell it to Agache.
Paris FC currently ranks first in this year’s Ligue 2 championship, the second division of France’s professional football leagues, whose winner is promoted to the top-tier Ligue 1 the following season.
In addition to Paris FC’s men’s team having French and European championships in its sights, the club’s ambition is to develop its women’s team strongly.
“Through this project, we wish to continue to embody the value of high standards and to retain the culture of effort and respect for the traditions of a great (and future very great) club,” Antoine Arnault said in a statement. The son of Bernard Arnault is set to be Agache’s representative on the Paris FC’s board of directors. It is understood he will become president when Ferracci retires.
He called the club “a role model in many respects” and said the Arnault family — all soccer enthusiasts — hoped to write “a new and exceptional chapter in French football history, without setting any specific objectives at this stage.”
Calling the offer by Agache and Red Bull “a unique opportunity [he] immediately accepted and welcomed with the greatest enthusiasm,” Ferracci lauded the Arnault family as “astute investors who know how to make long-term commitments and show the greatest respect for the unique history of each of their maisons.”
Oliver Mintzlaff, chief executive officer corporate projects and investments at Red Bull, said the company was keen to offer “our experience and know-how to open up new sporting horizons for Paris FC.”
“Paris and the Ile-de-France region are a breeding ground for exceptional footballing talent who must above all else be trained and nurtured in a club in their region,” he added.
The deal is subject to the filing of legal documentation, as well as approval of the representative bodies of the club’s staff and the professional club control commission of the National Directorate of Management Control, an organization monitoring and overseeing the accounts of professional association soccer clubs in France.