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AC Milan set for £890m takeover bid from world’s second-richest man Bernard Arnault worth £86billion who owns Luis Vuitton and Dom Perignon

AC MILAN are braced for a staggering takeover bid from the second world's most valuable man Bernard Arnault.

The Louis Vuitton owner is reportedly plotting a package worth a staggering £890million to Elliot Management who currently own the legendary Italian side.

The cost is just a snip in the ocean for Arnault who is currently worth around £86bn.

Elliot Management are not in the market to sell the club having already rejected offers of £531m and £663m.

According to Il Messaggero, the French businessman believes his offer will tempt the current owners to sell up and allow him to continue with his ambitious plans.

They include investing heavily in the transfer market, attracting major sponsorship and pumping money into the academy.

Elliot took sole ownership of AC Milan in 2017 but would be reluctant to cash in following plans to bulldoze the San Siro and rebuild a state-of-the-art stadium.

Arnault oversees an extraordinary business empire of 70 brands including beauty brand Sephora and vintage champagne Dom Perignon.

His father made a small fortune from construction and his wealth started to accumulate in 1984 following the purchase of Christian Dior for £12m.

AC Milan have won two out of their opening three matches following their fifth place finish last campaign.

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