Repubblica: Elliott reject €600m offer from energy tycoon to buy AC Milan

By Oliver Fisher -

Elliott Management have rejected an offer to buy the club from a Czech energy tycoon, according to reports.

Italian daily newspaper La Repubblica claims Elliott have turned down an offer of over €600million presented by Czech businessman Daniel Kretinsky.

Kretinsky is considered a king of energy, running and co-owning (94%) of the biggest energy group in Central Europe, EPH.

He also has interests in Italy and is president of Czech giants Sparta Prague, and according to Forbes has a net worth of around $2.6billion.

The report claims that Elliott – managed by the Singer family – wants to double the value of the club before they consider selling, and that is the task that awaits new club executive Ivan Gazidis.

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