Elliott Management Corporation are reportedly in talks to sell Milan to Bernard Arnault for €960m, with Max Allegri lined up as their new Coach.
According to La Repubblica newspaper, the negotiations are well underway for the US hedge fund to sell on the Serie A club.
Elliott are only in charge because former President Yonghong Li defaulted on loan repayments, so the club was effectively among repossessed assets.
The intention was always to get the club financially stable again before selling on to a different investor.
Today’s report suggests that will be Bernard Arnault, the owner of luxury fashion brand LVMH, which has under its umbrella Louis Vuitton.
The sale would seemingly be for €960m, a drop from the original €1.2bn asking price, and could even by concluded by the end of 2019.
La Repubblica also claim that the next owners have targeted Allegri as their Coach for the 2020-21 season.
It would be a return to San Siro for Allegri, who was on the bench from 2010 to January 2014, winning the Scudetto in 2010-11 and the Italian Super Cup.
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