Report: Louis Vuitton owner prepares offer of €1bn+ for AC Milan

By Isak Möller -

The future of Milan, in a few months, could be French. According to reports from Il Messaggero, the owner of Louis Vitton, Bernard Arnault, is interested in taking over the ownership of the club from the Elliott fund. 

Only a few months ago, Arnault surpassed Warren Buffett in the list of the richest men in the world, thus advancing to third place behind Jeff Bezos and Bill Gates, the report continues. The French entrepreneur has estimated assets of $94.6bn.

The current Milan owners, Elliott Management, have previously rejected two offers for the club: €600m and €750 respectively. Therefore, according to the report, Arnault is preparing an offer of slightly more than €1b for the full ownership of the club. 

The French entrepreneur is believed to have an ambitious project for the Rossoneri: from the expensive purchase of the club, the transfer market and a business plan to increase turnover through major sponsorships, the report concludes. 

However, the Louis Vuitton group released a statement to Il Messaggero denying the rumours: “The LVMH group firmly and officially denies the hypothesis reported today by Il Messaggero that LVMH presented an offer to the Elliott fund for the purchase of the AC Milan football club”.

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Tags AC Milan