There have been several recent major developments in the Red Bull network of which Leeds United are now a part, not least the controversial appointment of Jurgen Klopp as its head of global football.
Since investing in Leeds in the summer, it has been a busy few few months for the Austrian energy drinks titans turned multi-club investors – even by their own high-octane standards.
Red Bull completed a full takeover of Japanese club Omiya Ardija in September, followed by an almost unprecedented commercial drive in the Premier League.
Newcastle United, Nottingham Forest, West Ham, Crystal Palace and Everton have all struck sponsorship deals with the company, who have previously not targeted English football.
That followed what is believed to be an EFL-record deal to become Leeds’ front-of-shirt sponsor.
With the appointment of a Liverpool legend in Klopp, Red Bull will now inevitably court more attention in England, both in West Yorkshire and beyond.
And Leeds’ co-owners are now making another move which in due course could prove as seismic as any they have made in football so far.
Red Bull poised to take over yet another club
In total, the Red Bull stable now encompasses six clubs worldwide, as well as myriad commercial relationships within the sport.
As reported by numerous outlets, the £10bn-a-year revenue company is now all set to purchase a minority stake in Ligue 2 side Paris FC.
Red Bull’s investment is being made in tandem with Bernard Arnault, the world’s fifth-richest man who will take a controlling stake in the historic club in a deal that values it at approximately £75m.
That is a remarkably high appraisal for any second-tier, particularly one in France, where the value of media rights is in freefall.
The valuation is more likely linked to the desirable location in France’s capital.
In time, Red Bull’s investment could make Paris FC one of the leading clubs in France, where Paris Saint-Germain have been utterly dominant over the last decade.
Do Red Bull want a full Leeds takeover?
In short, we cannot know for sure. In fact, we don’t even know what equity stake Red Bull own.
But the feeling within the football finance industry is that it would be a left-field move for both Red Bull and 49ers Enterprises to agree to a change in ownership.
Red Bull are in football for brand exposure reasons and, given that they have promised not to meddle with Leeds’ name or colours, Leeds would not be a natural fit relative to their other full takeovers.
Neither Red Bull nor any of their employees are listed as a ‘person of significant’ control on Leeds’ Companies House page, which suggests their stake is less than 25 per cent.
In German media, it has been reported that Red Bull own a 10 per cent stake, although the lack of corroboration in the domestic press does not inspire huge confidence in that claim.
Either way, the price that Red Bull paid for their minority stake would soar overnight if Leeds were promoted to the top flight once again.
It therefore may be that the company see the club as a capital appreciation project (buy low, sell high) with marketing benefits, although that would represent something of a change in direction for Red Bull.
But with Leeds accelerating plans to expand Elland Road, which would amplify interest and exposure for Red Bull, it may prove a shrewd business manoeuvre.
And as long as there is no encroachment into Leeds’ unique identity, the additional capital generated by the firm’s investment in the club can only be seen as positive.
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