Arsenal: Kroenke’s offer to buyout Usmanov
Two weeks after the Financial Times broke the story, Stan Kroenke has made his move.
It’s been confirmed on Tuesday morning that Stan Kroenke is on the verge of almost total control at Arsenal.
Kroenke holds 67% of Arsenal, while the second biggest shareholder is Alisher Usmanov at 30%.
The FT recently announced that Usmanov is ready to sell off his 30% shareholding in Arsenal after becoming disillusioned with his investment.
Kroenke has now officially offered to buyout the Russian billionaire in a deal valuing the Gunners at 1.8 billion pounds.
To be clear, Kroenke will offer £550 million to buyout Usmanov’s stake.
Will the deal happen?
There appears to be little doubt that Kroenke will buy out Usmanov imminently.
Kroenke, often dubbed ‘Silent Stan’ for the distance he keeps from Arsenal, has released the following statement:
We at KSE are moving forward with this Offer leading to 100% ownership of the Club. We appreciate Mr Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the Club represents.
It’s been well documented over the years that Usmanov isn’t a fan of Kroenke. Indeed, both parties have tried to buy the other out previously.
Usmanov offered Kroenke $1.3bn for his stake in the Gunners, which was rejected. While Kroenke has offered Usmanov £525m for his shares, which was also rejected.
Stan Kroenke has reached agreement with Alisher Usmanov on his buy-out of Arsenal. It’s not just an offer – Usmanov has accepted the terms of a takeover that values Arsenal at £1.8 bn.
— Jeremy Wilson (@JWTelegraph) August 7, 2018
Breaking news Stan Kroenke set to take full ownership of @Arsenal in a deal valuing the club at 1.8 billion
— Jacquie Beltrao (@SkyJacquie) August 7, 2018
Why Arsenal fans should be concerned
Arsenal fans may now be sweating about the future of their club.
Indeed, the Arsenal Supporters Trust have taken to social media in recent days to explain why they are so fearful of Kroenke having total power at the Gunners.
But what can the AST do about this?
Sadly they seem to be reduced to shouting from the sidelines, unable to affect the activities of the club.
Which is how most Arsenal fans have felt for seasons…
Disastrous new for Arsenal. Looking set to be wholly owned by American investor. Will transfer business to the US. No accountability, no transparency, finances hidden. Supporter shareholders forced out. Custodianship dead.
— tim payton (@timpayton) August 7, 2018
And the financing of the purchase of Arsenal shares being financed by loans. Arsenal being mortgaged so an investor American can make money out of the club
— tim payton (@timpayton) August 7, 2018
Taking this action in the week the new season starts just shows how little regard Kroenke has for the club. It’s what you get when club falls into hands of someone who doesn’t support the club but merely sees it as money making. RIP Custodian Arsenal
— tim payton (@timpayton) August 7, 2018
If Stan Kroenke wholly owned Arsenal it’s likely the clubs ownership structure would be transferred to the secretive US state of Delaware meaning Arsenal’s financial and operating business models would be hidden away from scrutiny and challenge https://t.co/hXBNKWQggR
— AST (@AST_arsenal) July 24, 2018
Also see: Arsenal’s 2018-19 depth chart
Arsenal betting tips and predictions for 2018/2019.
from Football (soccer) greatest goals and highlights | 101 Great Goals - Feed http://bit.ly/2ANnLHd
No comments:
Post a Comment