Following next week’s assembly, the Arnault family will own 52% of the club and Red Bull 11%. The rest will be split between different minority shareholders, including mobile phone operator Lycamobile and Ferracci’s Alter Paris company, which will maintain a 30% stake. In 2027, Ferracci, who has been at the helm of the club since 2012, will leave and the Arnault family’s share will increase to around 80%. However, Antoine Arnault shared the new owner’s primary ambition will be overseeing Paris FC’s promotion to France’s Ligue 1 from the second division, of which they are currently the leaders. LVMH’s high-profile and highly visible product placement in the Paris Olympic Games, designing medals, ceremonial uniforms and presentation trays, raised eyebrows and created some tensions with the Games’ long-term sponsors.

Source: New Zealand Herald November 20, 2024 19:43 UTC