Elliot sell AC Milan club to LVMH group: the details

AC Milan owners Elliot Management have reached an agreement to sell the club to French billionaire Bernard Arnault and his LVMH group.

The well-known journalist Luca Serafini has launched a real bomb in these minutes on Twitter. In fact, on his account Serafini announced that the LVMH group has closed a deal to buy AC Milan club from Elliott Management.

The agreement will be official announced after the approval of the new stadium project by the Milano town hall. Serafini was the first to report on the passage of AC Milan from Berlusconi to the Chinese and also the first source to offer concrete details on AC Milan’s acquisition from Elliot.

The journalist has not given any numbers but LVMH group, owned by French billionaire Bernard Arnault, has reportedly offered around €975 million to buy AC Milan from Elliot.

Bernard Arnault is one of the three richest people in the world with his net worth close to $110 billion. His LVMH group controls famous luxury brands like Louis Vuitton, Moet & Chandon, Dom Perignon, Hennessy, Dior and Bvlgari.

The ownership transfer from Elliot to Arnault and LVMH group is likely to be completed around the end of the season.

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