Elliott Management and the LVMH group – led by Bernard Arnault – have reached an agreement over the sale of AC Milan, a journalist claims.
There has been intense speculation in recent months suggesting that Arnault is more than interested in buying the Rossoneri from the American hedge fund.
La Repubblica recently reported that Arnault has tabled a €975m bid to buy Milan and is awaiting a response to his offer, while fellow fashion giant Giorgio Armani dropped a hint that Arnault is keen on buying Milan during an interview.
There has even been speculation from the aforementioned newspaper that Gordon Singer of Elliott has been in Milano to hold talks over the sale of the club, though more denials arrived from an LVMH spokesperson.
Now, Milan-affiliated journalist Luca Serafini is reported than agreement has been reached between Elliott and the Louis Vuitton group over the sale of the Rossoneri.
He adds that the deal will be ratified once there is approval on the new stadium project.
— Luca Serafini (@lucaserafini4) January 12, 2020