Antoine Arnault has denied the rumours that his family has any thought about buying Milan from Elliott.
La Repubblica suggested this morning that Elliott are in talks with the Arnault family over the sale of Milan for €960m, citing that this is the new asking price after €1.2bn was originally demanded.
The newspaper even claimed that the sale could be completed before the end of 2019 and that the Arnault, who own LVMH Moët Hennessy – Louis Vuitton SE, want Massimiliano Allegri as coach.
However, Antoine Arnault, the son of Bernard Arnault (who has a net worth of $95.3 billion), went on Instagram on Saturday afternoon to deny everything:
“Dear Milan fans. I want to write this message to put an end to all rumors concerning the interest of my family, or the LVMH group, into buying the Milan,” he wrote. “We have the utmost respect for your beautiful club, its values, its fantastic history, but have never been in contact with anyone from the club, and have never been interested in investing or acquiring it.
“We do not know where this strong rumor has come from, but it has no foundations whatsoever. We wish all the best to the Milan this season and the next ones. Thank you.”