Arsenal's Stan Kroenke Makes Offer To Take Full Ownership Of Club

Arsenal's Stan Kroenke Makes Offer To Take Full Ownership Of Club

Most of that is held by Russian businessman Alisher Usmanov, through Red and White Holdings, which KSE said had given an "irrevocable undertaking.to accept the offer".

The statement on the London Stock Exchange said KSE, a DE corporation owned by Kroenke, holds 41,743 Arsenal shares.

Kroenke, owner of the Los Angeles Rams American football team, has been a part-owner of Arsenal since 2007, gradually increasing his stake in the club since.

This is a common thread throughout Kroenke's ownership of sports teams in America too.

Many of these fans are AST members and hold their shares not for value but as custodians who care for the future of the club, " the trust said in a statement.

Arsenal majority shareholder Stan Kroenke has tabled an offer for the club's remaining shares that values the Gunners at £1.8billion after receiving backing from minority owner Alisher Usmanov.

To do that he has a loan agreement with Deutsche Bank to lend him £557m, allowing him to fund the takeover.

Arsenal finished sixth last season and will play in the Europe's second tier competition - the Europa League - during the 2018/2019 campaign.

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Kroenke, who also owns the NFL's Los Angeles Rams, now owns 67 percent of Arsenal.

It should have little impact on the club's day-to-day business as Kroenke already owned 67 percent of the club and had the final say on all major pieces of business.

With Arsene Wenger departing after more than 20 years from the Arsenal manager's seat and being replace by Unai Emery, Gunners fans would have been hoping for relative calm before the start of the new season.

AST added that by becoming the 100% owner, Kroenke would be able to take "detrimental actions" such as paying "management fees and dividends without any check or balance".

"I think it's very sad that we're in danger of losing any transparency into how our club is run", he told Reuters.

Coming at a crucial time for Arsenal as they start life without manager Arsene Wenger for the first time in 22 years, the deal cements the position of the USA sports boss among an elite band of super-rich soccer club owners in England.

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents", he said.

Usmanov's large ownership stake means that if he agrees to the terms set out on Tuesday, Kroenke's takeover bid becomes binding and he can force non-compliant shareholders to sell up.

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