Stan says thanks a billion to Wenger
ARSENAL’S £1billion valuation following a record-breaking share deal explains absentee owner Stan Kroenke’s reluctance to ditch besieged manager Arsene Wenger.
The last Arsenal transaction on the NEX Exchange on March 27 saw a single share in the club trade for an unprecedented £17,750 — putting the club’s market capitalisation at £1.073bn.
That means Kroenke is sitting on a paper fortune of £700million from his 67 per cent stake on the back of Wenger’s consistent management, which fans are clamouring to end.
Wenger’s achievement in keeping Arsenal in the Champions League every season has seen the share price rise from £8,000, at which Kroenke bought David Dein’s holding, past £11,500 — Kroenke’s offer to shareholders following his takeover — to the current sky-high number.
If Kroenke sold at this record price, he would make a £300m profit. No wonder he is in no rush to disrupt Wenger’s regime, even after the 3-0 horror show at Crystal Palace.
Silent Stan can also put his Arsenal shareholding up as a guarantee if he leverages money for the new stadium being built in Los Angeles for his relocated American football franchise LA Rams. MICHAEL BUFFER, the American boxing ring announcer, will be booming out his famed ‘Let’s get ready to rumble’ in the unlikely environment of the Clapham Grand on April 27, when Sky put on a charity fight night for the Lily Foundation. Buffer, in London for the Joshua-Klitschko bout two days later, has been roped in to announce the so- called main event between Sky Sports communications chief James Motley and former Sportsmail executive Mark Alford. Buffer shouldn’t bank on seeing many punches thrown.
l ITV Sport spinning that glorious weather was to blame for their dismal Grand National viewing figure of 8.2million doesn’t stand up to scrutiny. The race was put back to 5.15pm to accommodate those who had been out for the day. The rating is especially embarrassing for Aintree boss John Baker, whose stated target was 12m.