Louis Vuitton owner Bernard Arnault is reportedly planning a €1 billion takeover of AC Milan.

The French businessman comes only behind Jeff Bezos and Bill Gates in terms of wealth, some €85 billion, and controls over 70 brands via his Lvmh-Louis Vuitton conglomerate.

According to Il Messaggero, Arnault wants to buy Milan at the end of the season from Elliott Management which control the Rossoneri.

A €1bn investment would be needed to take control of the Rossoneri and Arnault apparently has an ambition plan to reinvigorate the club’s fortunes.

However, Elliott are not keen to sell at the moment, especially given he investment they have made in a new stadium for Milan, which should come to fruition in the coming years.

Paul Singer’s hedge fund have previously refused an offer of €600 million from Daniel Kretinsky, the 39-year-old executive president of the Czech energy giant Eph and owner of Sparta Prague.