In a crucial week for Milan, from the market point of view, between outgoings and signings, there are also rumours that the club could be sold.
The name that constantly echoes in Milan is that of the LVMH group, headed by Bernard Arnault, the number one in Europe for personal wealth.
ELLIOTT MUST SELL
We will return to talk about the Arnault rumours with an important testimony shortly, but returning to Elliott, at this point, it is clear that Paul Singer’s group must sell. The fund bought Milan in 2018, with the intention of obtaining a capital gain by selling it subsequently.
Sources close to Singer’s fund claim that a two-to-three-year plan had been presented to the shareholders at the time of the acquisition. So Elliott will sell Milan by 2021. The sooner Elliott manages to sell Milan, the more revenue he will have from the sale.
This is because Milan are constantly at a loss, as the latest balance sheets certify (Elliott loses almost €10million a month). All this, of course, as long as the definitive yes for the construction of the new stadium arrives, which shouldn’t be a problem.
With these hypotheses occurring, Elliott should sell AC Milan for around €1billion, or slightly less. So much so as to make aabout €300m on the sale, when taking into account the €300m lent to Yonghong Li, the €265m invested upon acquisition of the club and the over €150m spent on the transfer market.
“ARNAULT IS COMPLETING THE PURCHASE OF MILAN”
Let’s go back to Bernard Arnault, owner also of the famous Dior brand: although the LVMH group constantly deny speculation, the rumours that Arnault could be the new owner of Milan are becoming more and more insistent.
A key role in the negotiation is played by Ariedo Braida. It is a source close to the former general manager of Milan who claims that the acquisition of the club has practically already been completed.
But not only that: there has also been a secret executive meeting, where the concrete possibility of hiring Massimiliano Allegri as a new coach for the 2020-2021 season would have emerged with the figure of Boban who – by the same will of the new ownership – would acquire more and more responsibility.
There would also be a key role for Zlatan Ibrahimovic: if the Swede talks about only a six-month stay at Milan for now it is because everything will change in June and, therefore, he would sign a new contract with Milan, remodelled and redefined in a squad that would still see him in the center of the project, physical conditions permitting.
Concrete indications also from the point of view of the market, where Milan are making intelligent sales to deflate the number of contracts, and/or to clear the ground for the new owners.
Among other things, Milan – unlike the other teams – are not trying to sign any players on expiring deals or to make signings for the future, precisely because it will then be up to the new management to do so. The only one to have had the first contacts – always according to sources close to the probable new management – seems to be Thiago Silva. A courtesy call or a first, real, proposal? After Ibrahimovic’s return nothing is barred.
The sure news, therefore, is that Elliott will sell the club very soon. And if the rumours are confirmed, the new owner will be Arnault. A guarantee for all the Milan fan who, after many years of suffering, could return to thinking big with Allegri back on the bench.