• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

LVMH brands can choose to forge deals with Paris FC soccer club or not, Arnault family says

by November 20, 2024
written by November 20, 2024

PARIS (Reuters) – The Arnault family holding will not pressure LVMH brands into forging partnerships with Paris FC once it acquires a controlling stake in the French capital’s soccer club, Antoine Arnault, son of billionaire Bernard Arnault, said on Wednesday.

Instead, if brands want to do so, Antoine Arnault said he would put them in touch with the club but would not force them to strike a deal if it does not fit their brand strategy.

Arnault, who will represent Agache, the Arnault family’s holding company, on the second-tier French soccer club’s board, also said buying a controlling stake was a long-term investment.

“It’s important, sports-wise, to do things gradually, to build, grow and improve by doing things gradually, step by step, without rushing,” he told a press conference, adding: “We’re in it for the long run.”

The proposed takeover continues a trend of billionaires buying soccer clubs across Europe, while overhauling a Paris-based club that could potentially rival Ligue 1 champions Paris Saint Germain, owned by Qatar Sports Investments.

Paris FC have struggled to find a fan base, with the average attendance last season at just under 5,500 in their 19,000-capacity Charlety stadium despite tickets being free since last November.

Agache said last month that LVMH Chair Bernard Arnault had teamed up with energy drinks company Red Bull to enter into exclusive talks to buy a controlling stake in the club.

Paris FC’s current owner Pierre Ferracci told the same press conference that a deal was imminent.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Fed’s Cook: More cuts likely appropriate as disinflation expected to continue
next post
PIMCO bullish on stocks on US soft landing hopes, cautious on inflation

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Advance Auto Parts: BMO starts coverage with ‘sector perform’, says valuation fair
    • Greece stocks lower at close of trade; Athens General Composite down 0.32%

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy