One of the wealthiest man on planet is said to be preparing a mammoth takeover bid for Italian giants AC Milan.
AC Milan are rumored to be in talks with LVMH-Louis Vuitton group owner Bernard Arnault over a big money takeover deal at the Italian club.
According to the Italian newspaper Il Messaggero, the CEO of the LVMH-Louis Vuitton group and the recently acclaimed second richest man in the world, Bernard Arnault may be interested in taking over the Milan based club from current owners the Elliott fund, for a figure just over €1 billion.
The Frenchman, worth an estimated €90 billion as per the Forbes rich-list published in July, sees serious potential at AC Milan and has plans to make major investments in regards to transfer funds, the academy and sponsorship deals if he is able to purchase the club.
Elliot Management have been the current owners since 2017 and are believed to have no interest in selling the club – even turning down offers upwards of €550 million in recent times. However, Arnault is believed to be keen to expand his growing list of businesses despite the current owners reluctance to sell.
The report from the Rome-based newspaper suggested he planned to transform the Rossoneri’s recent fortunes around and restore their position as one of the worlds most successful clubs, since the club has been something of a sleeping giant in recent years, where it has been absent from the Champions League after underperforming domestically.
Along with cross-city rivals Inter Milan, the club is already set to depart their San Siro/Giuseppe Meazza stadium for a newly-built facility, meaning Elliot Management are unlikely to sell up at this time.