French billionaire and LVMH chairman Bernard Arnault has partnered with Red Bull to enter exclusive negotiations over buying Paris FC. Agache, the holding company of France’s richest man Arnault, is in discussions over purchasing a majority stake in the French club.

France’s capital city might finally be about to have a second major soccer club, and a challenger to Paris Saint-Germain (PSG), with a takeover of Paris FC by the country’s richest family along with energy drinks giant Red Bull expected to be announced in the coming days.

Agache, the holding company of LVMH founder and Chief Executive Bernard Arnault’s family, is in exclusive talks to buy a majority stake in storied soccer club Paris FC.

The Arnault family, owners of the LVMH luxury goods conglomerate, are in "exclusive negotiations" to buy a controlling stake in French football club Paris FC in a deal that will see energy drinks giant Red Bull secure a minority shareholding.

The Arnault family and Red Bull have entered exclusive negotiations with Paris FC for the purchase of the Ligue 2 side according to a press release sent by Financière Agache (a subsidiary holding