Lille president drops huge hint that Elliott Management are looking to sell AC Milan

By Oliver Fisher -

The main shareholder of Ligue 1 side Lille – Gerard Lopez – has dropped a big hint that Elliott Management are looking to sell AC Milan.

Speculation continues to grow that Louis Vuitton group (LVMH) owner Bernard Arnault is interested in acquiring the Rossoneri from Elliott, with newspaper La Repubblica recently stating that the French businessman has tabled a €975m bid to buy Milan.

However, denials arrived from an LVMH spokesperson regarding that report, but those who claim to be in the know insist that it is to protect the stock market interests of both Elliott and LVMH.

In fact, Milan-linked journalist Luca Serafini stated on Sunday night that an agreement has been reached between Elliott and Arnault over the sale of the Rossoneri, with the signatures ready to be placed once the new stadium project is approved.

Monday’s edition of Corriere della Sera contains an interview with Gerard Lopez, the main shareholder of Lille, who discussed Elliott’s involvement with the Ligue 1 club. He revealed an interesting bit of information first, though.

“Elliott financed Milan to sell it subsequently to a third party,” he said (via MilanNews.it).

“Instead they financed this club to start an investment program in the players, creating value, selling some but keeping others to grow Lille, believing in the goodness of the French business model.

“Lille made a net profit from transfers of 200 million in the past two years. If we are not the best in the world, we are in the top 4-5 clubs.”

Tags AC Milan Bernard Arnault