Louis Vuitton Are Reportedly Interested in Buying AC Milan
Dripped-out investment ?
AC Milan are rumoured 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 third richest man in the world may be interested in taking over the Milan based club from notorious owners the Elliott fund, for a figure just over one billion euros.
The Elliott fund, the Paul Singer-owned company who are notoriously renowned as “vulture” capitalists, are currently in control of the Rossoneri. The conglomerate are looking to make a healthy profit on their investment when they took over the club back in 2017, as the group reportedly has “no interest in running a football club” and are only interested in profitability.
Arnault and LMVH now seem to be the frontrunners to take over and purchase the club for a fee of over 1 billion euros at the end of the 2019/20 season according to the report. LMVH have since denied reports, but should the deal happen, the idea of Virgil Abloh designing Milan’s kits in the coming seasons isn’t out of the realms of possibility.
In other football crossover news, Real Madrid are campaigning to be the first European team in the NBA.