Stan Kroenke has insisted he remains committed to Arsenal and his shares are “not, and never have been, for sale”.
KSE UK, which is the holding company for the American’s interest in Arsenal, issued a statement to the London Stock Exchange on Monday following media speculation concerning its commitment to the Premier League club, who have missed out on the top four of the Premier League for the first time in 20 years.
The Russian businessman Alisher Usmanov, who owns 30% of the club, made a formal £1bn bid to buy Arsenal, but Kroenke has no intention of relinquishing any of his 67% holding.
A statement to the London Stock Exchange read: “KSE UK, Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms its shares are not, and never have been, for sale. KSE is a committed, long term investor in Arsenal and will remain so.”
Arsenal are facing up to a multimillion pound drop in revenue after failing to qualify for the Champions League but the statement of intent from KSE indicates Kroenke is at the Emirates Stadium for the long haul.
Arsenal may have come up short in the Premier League but could yet win what would be a third FA Cup in four seasons when they play the holders, Chelsea, at Wembley on Saturday. Kroenke, though, could face a battle to win back the trust of those supporters who believe a change is needed in the boardroom. Chants for the majority shareholder to “get out of our club” resonated around the ground during Arsenal’s 3-1 win over Everton on Sunday, which proved enough for only fifth place.
The future of manager Arsène Wenger also remains unresolved. Wenger chose not to join his players on the traditional lap of appreciation on Sunday but offered support to Kroenke in his post-match press conference.
“I respect Stan Kroenke a lot. He is not at fault if we did not reach the Champions League,” Wenger said. “It is the technical department who is responsible for that. I don’t see what he has to do with that.”
Wenger accepts doubts surrounding whether or not he would be staying on past the end of his contract have contributed to an “absolutely horrendous” environment at the club.
He has refused to confirm he will stay next season and, after missing out on the Premier League’s top four for the first time since 1996, Wenger said the uncertainty had not helped.
“Overall I believe we played since January in a very difficult environment for different reasons,” Wenger said. “The psychological environment for the players was absolutely horrendous.”
Arsenal will play in the Europa League for the first time next season and missing out on Europe’s premier tournament may not sit well with their star players. The futures of Alexis Sánchez and Mesut Özil, in particular, are far from certain. Arsenal have some selection concerns the FA Cup final, with the defender Laurent Koscielny banned following his red card on Sunday, while Gabriel had to be carried off on a stretcher after sustaining a knee injury.