Kroenke takeover a dreadful day for Gunners: Fans group
STAN KROENKE’S proposed takeover of Arsenal has been labelled “a dreadful day for Arsenal Football Club” by a leading supporters group.
The American’s company, Kroenke Sports and Entertainment, currently owns 67% of the Gunners and has offered to purchase the 30% held by Alisher Usmanov’s Red and White Securities firm.
KSE says it has received an “irrevocable undertaking” from Red and White Securities to accept the offer as soon as possible.
But the news has been received poorly by supporters who have long protested against Kroenke’s involvement with the club.
A statement from The Arsenal Supporters’ Trust (AST) read: “Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values.
“The most dreadful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans. “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. Kroenke’s actions will neuter their voice and involvement. “The AST is wholly against this takeover. Arsenal remains too important to be owned by any one person.” In a statement published on the London Stock Exchange, Kroenke said: “We at KSE are moving forward with this offer leading to 100% ownership of the club.
“We appreciate Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the club represents.”
In October last year KSE offered around £525 million (RM2.6b) to buy the 18,695 shares held by Usmanov.
Kroenke believes taking the north London club into private ownership will increase their chances of success in the future.
The Gunners last won the Premier League title in 2004 and last season finished sixth, 37 points behind champions Manchester City. – The Independent