Arnault makes official offer to buy AC Milan

The owner of LVMH group, French billionaire Bernard Arnault, has made an official offer to buy AC Milan club from Elliot.

For months, the Italian media have been writing on the interest of Bernard Arnault, owner of LVMH group and third richest person in the world, in acquiring AC Milan club form Elliot Management. Despite the initial denials, rumors continue to circulate and we are getting close to the conclusion of talks.

Although Elliott Management Corporation fund has always said that it has a long-term plan for the club, the sale of the AC Milan should not be ruled out in the face of a good offer. It is true that the sporting results of these seasons are very disappointing, but the Devil continues to tempt potential buyers.

According to La Repubblica Elliott must soon respond to Arnault’s €975 million offer for the sale of AC Milan. A super proposal, considering that AC Milan has constantly been losing money and lacks top players in the squad. Considering the very high offer it’s unlikely that the American fund led by Paul Singer refuses.

This is the first time Bernard Arnault has expressed interest in a football club. The 70-year-old French entrepreneur who is one of the three richest people in the world has a net worth of around $110 billion. His LVMH group controls famous brands like Louis Vuitton, Moet & Chandon, Dom Perignon, Hennessy, Dior and Bvlgari.

If the negotiations have indeed a positive outcome the sale of the club should take place before the end of the season. That means that the squad and the fans should not expect help on the January transfer window.

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