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Stan Kroenke Moves To Buy Alisher Usmanov’s Shares And Own 100% Of Arsenal Football Club

By The Editor
on 7th August 2018

Stan Kroenke is set to become our outright owner following a move to purchase Usmanov’s shares…

 

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Stan Kroenke is set to become the sole owner of Arsenal Football Club after moving to buy Alisher Usmanov’s stake in the club and take his personal share to over 97%, the American’s company KSE have confirmed (via the London Stock Exchange).

In a statement issued on Tuesday morning, Kroenke laid bare is ambitions for the club and why he felt taking us into private ownership will benefit the club long-term.

Usmanov recently briefed his favourite media outlet the Financial Times that he was looking to sell his shares, though few could’ve envisaged that he’d sell to the ‘enemy’.

Usmanov and Kroenke haven’t been on the friendliest of terms due to both men’s desires to own the club, with the Russian isolated despite owning 30% of the club.

Also, Usmanov made an offer last summer to buy out Kroenke but the offer was rebuffed rather swiftly.

In the statement, KSE reveal that their offer stands at £29,419.64-per share, which would mean that Usmanov would walk away with approximately £550m for his stake.

It also values Arsenal Football Club at £1.8bn, something KSE clearly wanted to note for the world to see – perhaps in the case of a future sale.

On the eve of a new season, hearing that the man who’s shown zero ambition, and even care, for on-field performances is set to become our sole owner is depressing.

Kroenke has been an absent owner for the majority of his reign and all our achievements have come from being self-sufficient – which often begs the question as to why he wants to own the club.

If you’re not taking dividends out on an annual basis, then football clubs aren’t necessarily the most lucrative businesses for a billionaire.

Hopefully, this latest move is just the first play in Kroenke selling the club for a huge profit in the future now that Usmanov is out of the picture.

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