CEO of LVMH Bernard Arnault, who is planning to invest in Paris FC, holding the America’s Cup sailing trophy. — Reuters
WITH the planned arrival of billionaire Bernard Arnault and Red Bull at the helm of Paris FC, the city of light’s football scene is about to undergo a major facelift.
The Arnault family’s holding company, Agache, announced last Thursday they will become the club’s majority shareholder, and the energy drink giant will have a minority stake.
The backing of Arnault, the chief executive of luxury goods company LVMH, should pave the way for the emergence of a second competitive club in Paris.
When fans visit some European cities, they are spoiled for choice about which match to watch. While there are seven London clubs in the Premier League this season, there is only one top side in the French capital, the Qatari-owned Paris St Germain.
It’s quite a rarity in European football, where big cities such as Madrid, Rome, Barcelona, Milan, and even Lisbon and Manchester, generally have two high-level clubs.
But PSG stands rather alone in Paris.
“There’s a paradox. We have a very popular sport that produces great football players but for the moment has not produced great clubs in Paris,” said researcher Paul Dietschy, a specialist in cultural and political sport history.
“The Seine Saint-Denis area (north of Paris) is one of the main scouting grounds for Europe’s top clubs. And at the same time, Paris has never produced clubs with the same long-lasting impact as those in major European cities such as Madrid, London, Barcelona or Manchester.”
It is not the first time an ambitious billionaire invests in a Paris club.
PSG’s Bradley Barcola (centre) in action against Strasbourg on Oct 19. PSG are currently the only top team in Paris. — AP
Before Arnault, the late French media baron Jean-Luc Lagardere tried to revive the fortunes of Paris’ former greatest team, Racing Club.
In the 1980s, Lagardere launched Matra Racing, signing big players such as Uruguay star Enzo Francescoli, Germany’s dribbling ace Pierre Littbarski, France midfielder Luis Fernandez and spectacular goalkeeper Pascal Olmeta in an attempt to compete with PSG.
It threatened to work, but in the end Matra struggled to draw fans, did not achieve significant results and Lagardere opted out of the ill-fated adventure after just a few years.
Many Paris teams alive at the start of the 20th century have gradually sunk from view. Red Star, who have returned to the second division, still enjoy a strong working-class fan base, but their chaotic functioning and lack of stability have kept the club in the shadows over the last 50 years.
The lack of top-level clubs in Paris and across the country can find its roots in the complex relationship between France and football.
First off all, French football had a slow start. While the English FA Cup was first played in 1871, football did not become France’s No. 1 sport until the 1930s-40s. Cycling previously captivated audiences thanks to the Tour de France.
Since the 2011 Qatari takeover, PSG have eclipsed rivals on the domestic scene.
In a championship which traditionally struggles to attract star names, lacks significant financial clout and lags behind with salaries, PSG have won Ligue 1 in 10 of the last 12 seasons. Monaco won in 2017 with a young Kylian Mbappe and Lille did so against the odds in 2021.
That makes Ligue 1 easier to invest in for outsiders. The talent is already there.
France’s exceptional football academies are arguably the world’s best along with Brazil and Spain, producing a veritable production line of talent, such as 2022 Ballon d’Or winner Karim Benzema (Lyon) and Mbappe.
So French football’s richness remains more anchored in its grass roots than its results. Only Marseille have won the Champions League, way back in 1993, and a handful of finals have been graced by PSG, Monaco and, decades ago, Reims.
Although French football is well established with more than two million people affiliated to clubs, interest in Ligue 1 remains fickle and league officials struggled this year to sell their TV rights.
Even though Les Bleus have won four major trophies and finished runner-up at three others, this has not produced a lasting effect at home.
With the few exceptions of teams, like Marseille, St Etienne, Strasbourg or Lens, who have faithful supporters, the interest for club football remains mediocre.
Interest in the French league did spike considerably during the ‘80s-’90s, however, when Marseille played with verve and style.
Stars like Rudi Voeller, Chris Waddle, Rai and George Weah joined a league where the rivalry between Marseille and newly confident PSG were relentlessly promoted by the clubs’ owners: Bernard Tapie at Marseille and pay TV channel Canal Plus at PSG.
Then came the Bosman ruling in 1995, which hurt French clubs badly.
The end of restrictions on the number of foreign players in clubs led to a mass exodus of French talent to more prestigious and – crucially – higher-paying leagues. It took until the past decade for a French club to re-emerge with major spending power: PSG.
Could Paris FC do it in the future with a long-term commitment from Arnault’s luxury group?
“The Paris FC business can work, because there are no more seats left at the Parc des Princes to see PSG,” Dietschy said.
“It will make for a second offer, although it’s a team with no real history. Everything has to be created, so why not?
“Things have changed over the last 25 years. Now there’s the bling side of football, and popular culture has invaded the luxury sector, they might want to seize that opportunity.” — AP
