Is Stan Kroenke set to take over Arsenal and purchase Alisher Usmanov’s 30 per cent share?
In tabling the bid, Kroenke hopes to own a whopping 97 per cent of the Gunners, according to reports in Arseblog
STAN KROENKE may have made his move to take over Arsenal and purchase Alisher Usmanov’s 30 per cent share.
In tabling the bid, Kroenke hopes to own a whopping 97 per cent of the Gunners, according to reports in Arseblog.
The move comes less than a year after Usmanov attempted to oust Kroenke himself, according to the Financial Times.
The billionaire, from Uzbekistan, put a whopping £1BILLION offer on the table for Kroenke's 67 per cent stake... which was promptly rejected by the American.
However, despite the turning of the tables, Arsenal fans remain worried.
On the news, the Arsenal Supporter’s Trust said: “The real concern is that he would take the club private.
“In what’s called a squeeze out, by making a compulsory purchase of all shares.
“That would mean Arsenal would become a private company, with no AGM, no detailed accounts like we have now, all of which would reduce accountability.
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"He would also have the option to register Arsenal in the United States, possibly Delaware where other KSE holdings are held.”
On Usmanov’s attempted buyout in May, Kroenke Sports and Entertainment said: “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.”
Kroenke first bought shares in Arsenal in 2007, when he bought 9.9 per cent of the club.
Since then he has gone on to invest around £700million in the club.