The family of LVMH’s Bernard Arnault has teamed up with Red Bull to take over Paris FC in the second tier of French football as the luxury billionaire expands his involvement in sport.

Paris FC, the capital's second-tier soccer club, is in the process of being sold off to the Arnault family - whose head Bernard Arnault is the billionaire behind LVMH - and to the energy drinks company Red Bull,

Pair team up to acquire French second division soccer club from president and majority shareholder Pierre Ferracci.

According to a report by L’Équipe, Paris FC could be on the verge of being sold to Red Bull and the Arnault family who have worked together previously in Formula 1. The current president and the

BERNARD Arnault’s family is nearing the purchase of a majority stake in second-tier football club Paris FC, investing alongside Red Bull, as the billionaire clan diversifies into sports, sources familiar with the matter said.

The Arnault family, owners of the LVMH French luxury goods conglomerate, and Austrian energy drinks giant Red Bull are finalizing a deal to acquire French second-tier soccer club Paris FC. The Ligue 2 side’s current majority shareholder Pierre Ferracci will sell a stake of between 55-56% to the Arnault family,

The acquisition would set the stage for a face-off between two soccer clubs owned by rival French luxury groups.