Ian Wright's tweet after Stan Kroenke agrees to takeover Arsenal

Lynette Rowe
August 7, 2018

USA sports mogul Stanley Kroenke, the controlling shareholder in Arsenal Football Club, has agreed to buy Russian billionaire Alisher Usmanov's 30.5% stake in the club.

The American sports mogul, who already owns 67 per cent of Arsenal through his company KSE, has reached a deal with Russian billionaire Alisher Usmanov for the sale of his 30 per cent stake, according to a statement to the London Stock Exchange.

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

In a statement released on Tuesday morning, they describe the buyout as a "dreadful day for Arsenal Football Club".

Usmanov, who is a minority shareholder of the club, isn't a part of the Gunners' decision-making board.

Stan Kroenke has made an offer to buy Arsenal, in a deal that values the club at £1.8 billion ($2.3bn).

The deal comes at a crucial time for the North London club, which embarks on life without long-time manager Arsene Wenger, who stepped down in April after 22 years in charge.

Arsenal finished the 2017/18 season in sixth place behind the two Manchester clubs, fierce local rivals Tottenham Hostpur, Liverpool and Chelsea.

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He was officially revealed to own the largest stake in the club in February 2008 with 24 percent, but at the time insisted he had no plans to increase his holdings and by 2011 Kroenke owned nearly two thirds of the Gunners.

In October, Kroenke Sports Enterprise UK (KSE) offered around £525m to buy the 18,695 shares held by Mr Usmanov's Red and White Securities Limited.

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".

"The AST is extremely concerned to note that this purchase is being funded by a loan".

The Arsenal Supporters' Trust said the news marked "a terrible day for Arsenal Football Club".

But what does that mean, and how did we get to this point?

Stan Kroenke's son, Josh, has been "taking an increasingly hands-on role at Arsenal" recently, The Daily Telegraph reports, and that is "expected to continue".

The Arsenal Supporters' Trust has voiced several concerns over the potential takeover in a strongly-worded statement of their own. It's like you or I buying a house, taking out a mortgage, if you maintain those payments against those loans or however you borrowed then it is not a problem.

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