This should’ve been wrapped up months ago, but finally Arsenal has allowed Stan Kroenke to invest and get involved in Arsenal. The board and supporters realize that this is no criminal, idiot, or oligarch and they better bring him in before someone far worse knocks on their door.
Arsenal are reported to be in advanced talks with American billionaire Stan Kroenke about a deal to put him in control at the club.
Kroenke, who owns a 12 per cent stake at the Emirates, has been offered a place on the club’s board and will be given first refusal on a majority of the club’s shares for the next four years.
However, the Independent claims Kroenke will not own a controlling stake in the club just yet, with the likes of Danny Fiszman and Lady Nina Bracewell-Smith keen to hold on to their shares a bit longer.
What it does mean, though, is that Kroenke will be placed in pole position to buy those shares when they become available.
The majority shareholder at Arsenal is Alisher Usmanov, who owns a 24.9 per cent stake through Red & White Holdings, but the club’s board are thought to be far more supportive of a Kroneke takeover than one led by Usmanov.
This is in no small part due to Kroenke’s burgeoning relationship with Arsenal Supporters’ Trust (AST), and his successful background in sport.
The American owns or controls teams in the NBA, NFL and NHL, as well as MLS side Colorado Rapids. Plus, and this will be music to the ears of Arsenal supporters, he has never sold a share of any team he has invested in and is known to spend heavily on stadiums and youth facilities.
This is great news for Arsenal supporters. I am in the camp of those who believe that Arsene was limited by funds (and not ego) from signing players at crucial periods and this injection of cash will finally allow Arsenal to complete financially with Manchester United and Chelsea.
If the transaction is finalized, it does place the pressure firmly on Wenger, who will have no excuses (such as money) if the team continues to underperform.