Pierre Ferracci announced that he will leave his position as president of Paris FC. His exit was already anticipated for the end of the season, however, it has been brought forward.

Ferracci made the announcement during an event on Monday. He will become an honorary president, whilst Antoine Arnault, the representative of the owners, the Arnault family, will succeed Ferracci. The decision must be ratified by the Administration Council, which is set to sit next on 9th November. The match against AS Monaco at the Stade Jean Bouin on 1st November is expected to be his last. An hommage is planned.

As well as vacating his role, Ferracci will also part ways with his shares. His 28.9% share will go to Agache Sport, the sporting subsidiary of LVMH, the majority shareholder. Red Bull still possesses a 10.6% share. “It is the right time for me to pass the torch,” said Ferracci on Monday in a speech transcribed by L’Équipe. He leaves the position with Paris FC third in Ligue 1 and level with leaders Olympique Lyonnais.