- UN report says 1.1 billion people in acute poverty
- Vietnam death row tycoon awaits verdict in new trial
- 'Our time has come': the female Indian director hoping to make Oscars history
- Bondi beach 'closed' as Sydney shores hit by 'tar balls'
- Dodgers smash Mets to seize lead in MLB playoff series
- China to almost double support for unfinished housing projects
- King Charles heads to Australia, a nation shrugs
- China to boost credit for property market, renovate 1 mn homes
- New York fight back to take 2-1 lead over Lynx in WNBA Finals
- Family feud reignites over Singapore ex-PM's historic home
- ECB set to cut rates again as inflation cools
- Malinin, Sakamoto headline pre-Winter Olympics figure skating season
- Prospective Paris FC takeover could transform French football landscape
- Asian markets rally, with eyes on China housing briefing
- China's underground lab seeks answer to deep scientific riddle
- China toughens Taiwan stance over president's sovereignty defence
- BTS member J-hope discharged from South Korean military
- How Indigenous guards saved a Colombian lake from overtourism
- Despite threats, Florida abortion advocate fights on
- Garcia Luna: Mexico's 'supercop' turned cartel abettor
- North Korea says constitution now defines South as 'hostile' state
- Vietnam death row tycoon faces verdict in new trial
- Menendez brothers' family call for release as US prosecutors review evidence
- Fiery Harris vows break from Biden in testy Fox interview
- Fiery Harris claims break from Biden in testy Fox interview
- Raytheon to pay $950 mn over fraud, bribery schemes: US
- Fiery Harris uses testy Fox interview to claim break from Biden
- Water crisis threatening world food production: report
- Mexico's ex-security chief sentenced to over 38 years in US prison
- One Direction's Liam Payne falls to death at Argentina hotel
- Climate change worsened deadly Nepal floods, scientists say
- Alcaraz will face 'difficult' clash with 'idol' Nadal
- US says India has removed alleged agent in assassination plot
- Barca hit nine in Women's Champions League, Bayern overcome Juve
- Harris courts Trump-skeptic Republicans with Fox interview
- Global stock markets diverge as investors focus on earnings
- Worms and snails handle the pressure 2,500m below the Pacific surface
- Serena Williams has grapefruit-sized cyst removed from neck
- Lavreysen wins record-equalling 14th world cycling track title
- School's out! Argentina students study in the street to protest budget cuts
- Lower rates, surging stock market fail to ignite US IPO market
- Pogba 'willing to give up money' to stay at Juve
- Few countries have drawn up nature protection plans: UN
- Biden to make farewell trip to Germany as Ukraine war rages
- EU announces 30 mn euros to stem Senegal irregular migration
- Italy extends surrogacy ban to couples seeking it abroad
- Panama Canal crossings down 29 percent due to drought
- 'Clear indications' India violated Canada's sovereignty: Trudeau
- World champion Springboks to host Italy in 2025, Moerat to miss November tour
- Trump claims to be 'father of IVF' at all-female campaign stop
Prospective Paris FC takeover could transform French football landscape
France's capital city may finally be about to have a second major football club, and a challenger to Paris Saint-Germain, 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.
News broke last week that talks were underway between the club's current majority shareholder, businessman Pierre Ferracci, and the Arnault family, owners of the LVMH luxury goods conglomerate, with Red Bull expected to secure a minority stake.
The takeover could completely transform the footballing landscape in France, where the domestic league has been dominated by Paris Saint-Germain since their acquisition by Qatar Sports Investments in 2011.
It could also lead to Paris having two teams in the top flight for the first time in over three decades, since Racing Paris were relegated in 1990.
That has created a stark footballing contrast between Paris and other major European cities, notably London which has seven clubs in this season's Premier League.
Neither Paris FC nor the Arnault family offered comment when contacted by AFP last week, but a source close to the talks indicated a statement would follow in the coming days.
The same source said the Arnault family -- France's richest, with LVMH CEO Bernard and his five children -- would acquire a controlling stake of 55 percent with Red Bull taking 15 percent of the club, whose badge features the Eiffel Tower, the ultimate symbol of Paris.
The remaining 30 percent would remain in the hands of Ferracci before passing over to the Arnault family in 2027.
- Klopp involvement? -
Despite the possible challenge to PSG, their ownership welcomed the prospect of a new rival on their doorstep.
"It is great news for Paris and for French football," was the response of Nasser al-Khelaifi last week according to the entourage of the PSG president.
Ambitions could then be sky-high for a club already primed to win promotion to Ligue 1 this season.
The involvement of Red Bull could be pivotal, given its proven success elsewhere, with its stable of football clubs led by Champions League regulars RB Leipzig.
Red Bull recently appointed Jurgen Klopp as head of football operations, meaning the former Liverpool manager could have a say in how Paris FC shape up.
Paris FC are closely related to Paris Saint-Germain.
They were formed in 1969 and quickly merged with a team from the suburb of Saint-Germain to form PSG.
There was a split in 1972. Paris FC were relegated from the top flight in 1974 and have only had one season there since, in 1978/79.
- Rai and Bahrain -
It is only in the last decade that they have become regulars again in Ligue 2, and now they top the table.
If PSG are associated with Qatar, Bahrain are the shirt sponsors of Paris FC.
Levels of investment are nowhere near the scale of what has been seen at PSG, but Paris FC still spent upwards of one million euros ($1.087 million) before this season on striker Jean-Philippe Krasso from Red Star Belgrade.
They also signed former Marseille midfielder Maxime Lopez, who played in Serie A last season for Fiorentina, but appear unlikely to invest huge sums in the transfer market immediately.
"Contrary to some of the nonsense I have heard, we have absolutely no intention to spend big in the January window," sporting director Francois Ferracci told Le Parisien.
While PSG attract over 45,000 fans to the Parc des Princes and are considering building a bigger stadium, Paris FC's recent home games have drawn fewer than 6,000 spectators on average.
That is despite offering free admission to matches at the Stade Charlety, an unloved 20,000-capacity venue in southern Paris.
"If we could start to get 10-15,000 fans at every home game that would be huge," the team's coach, Stephane Gilli, said in an interview published by the club.
The longer-term ambitions are clearly far greater for a club who have a notable ambassador in the shape of former PSG and Brazil star Rai.
"I want Parisians to believe that Paris deserves at least two top-flight clubs of a good level," Rai, who holds a small stake in Paris FC, told France Info radio earlier this year.
P.Mathewson--AMWN