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 Ligue 1 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. Energy drink giant Red Bull will come aboard with a minority stake.The statement didn’t give a monetary figure for the deal, which remains subject to completing legal and other paperwork. But the billionaire family's company intends to provide the club

Agache, the family holding of business titan Bernard Arnault, announced it would acquire a majority stake in the Paris FC soccer club.

PARIS : 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 Arnault family's holding company, and Red Bull have entered into excl

Under the terms of the deal, the holding company of luxury goods tycoon Bernard Arnault, France's richest man, would take a controlling stake in the Ligue 2 club Paris FC, according to a source close…

France’s richest family, the Arnaults of luxury empire LVMH, has announced the planned purchase of second-division soccer club Paris FC.