Kroenke wants full Arsenal control

LONDON. - Arsenal majority shareholder Stan Kroenke yesterday announced an offer to take full ownership of the English Premier League soccer club in a deal worth £1.8 billion.

The American sports mogul, who already owns 67 percent of the club through his company Kroenke Sports and Entertainment (KSE), has reached a deal with Russian billionaire Alisher Usmanov for the sale of his 30 percent stake, according to a statement to the London Stock Exchange.

“KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club’s strategy and ambitions,” it said.

“KSE is a committed, long-term owner of the club”. But the Arsenal Supporters’ Trust (AST) said it was a “dreadful” day for the club, adding it was too important to be owned by one person.

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

Uzbekistan-born Usmanov, who made his fortune in the steel industry, has reportedly made previous unsuccessful bids to take control of the club.

He was critical of Kroenke’s passive ownership style, a sentiment increasingly echoed by Arsenal fans, unhappy with what they see as the board’s willingness to settle for on-field mediocrity so long as commercial stability was maintained. Under takeover rules, if Usmanov accepts the offer it would trigger the sale of the remaining minority shareholders’ shares - many have preserved a small holding for decades - and place the club under the private control of Kroenke. - AFP.