French billionaire and LVMH chairman Bernard Arnault has teamed up with energy drinks company Red Bull to buy a controlling stake in French secondtier football club Paris FC, the Arnault family office said on Oct 17.
Agache, the Arnault family's holding company, and Red Bull have entered exclusive negotiations with owner Pierre Ferracci to buy a majority stake in Paris FC, with Red Bull seeking a minority holding, Agache said in a statement.
It did not provide financial details of the proposed deal.
A takeover of the French club would mark Arnault's latest foray into sports after LVMH signed a 10year sponsorship deal with Formula One in October and was one of the Paris Olympics' premium sponsors.
Those moves offer a new global stage to LVMH's powerhouse labels like Louis Vuitton and Dior, champagne-maker Moet & Chandon and watch brand Tag Heuer.
The proposed takeover continues a trend of billionaires buying football clubs across Europe, and could completely transform the footballing landscape in France, where Ligue 1 has been dominated by Paris Saint-Germain since their acquisition by Qatar Sports Investments in 2011.
Diese Geschichte stammt aus der October 18, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 18, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Liam Payne penned One Direction hits
Former One Direction singer Liam Payne, 31, was found dead outside a hotel in Buenos Aires after he fell from his third-floor room balcony, Argentine police said on Oct 16.
Disney Adventure cruise ticket sales start on Dec 10
Disney Cruise Line (DCL) has released voyage details of its first Asia-based cruise - the Disney Adventure - which will sail from Singapore for five years from 2025.
BTS member J-Hope finishes military service
K-pop star J-Hope, a member of the boy band BTS, was discharged from South Korea's military on Oct 17 after 18 months of duty.
Artbox returns in January with 300 stalls
Lifestyle marketplace Artbox is set to return to Singapore in a big way in January 2025.
India hears call to play more active role in de-escalating Mid-East conflict
Signs that it is looking to make a difference after calls for mediation by Iran and Lebanon
In the era of intimate skincare, you can have a vagifacial
Vaginal rejuvenation treatments are a growing buzzword in the beauty and wellness industry
Not just your mum's brand
Century-old labels are leveraging digital platforms and engaging younger ambassadors to stay relevant
Not just your mum's brand
While Gen Zers are often known for chasing the latest TikTok beauty fads, Ms Zoey Ong has different priorities.
"'PAT ON THE BACK' FOR YEW"
Netballer upbeat after overcoming injury as S'pore eye Asian c'ship crown
Tiger Beer, United to create 'unforgettable moments'
Singapore football fans will have more to cheer about, as local brewer Tiger Beer and 20-time English league champions Manchester United inked a partnership on Oct 17 that will create \"unique and unforgettable experiences for our fans all around the world\".