Search

Kroenke makes offer for full ownership of Arsenal

PUBLISHED: 08:43 07 August 2018 | UPDATED: 08:43 07 August 2018

Arsenal majority shareholder Stan Kroenke in the stands. Picture: Sean Dempsey/PA Archive

Arsenal majority shareholder Stan Kroenke in the stands. Picture: Sean Dempsey/PA Archive

PA Archive/Press Association Images

Arsenal’s majority shareholder Stan Kroenke has made an offer to take full ownership of the club in a deal worth £1.8billion.

The American’s company, Kroenke Sports and Entertainment, currently owns 67 per cent of the Gunners and has offered to purchase the 30 per cent 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, and in any event by 3pm on Tuesday.

In a statement published on the London Stock Exchange, Kroenke said: “We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.

“We appreciate Mr Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the club represents.”

In October last year KSE offered around £525million 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.

Unai Emery was appointed manager in May after the club said farewell to Arsene Wenger after 22 years in charge.

The statement continued: “The successful implementation of the offer will result in the opening of a new chapter in the history of the club in bringing 100 per cent private ownership by KSE.

“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. KSE is a committed, long-term owner of the club.”

Latest Hackney Stories

18:00

Ultra-marathon hero Kevin Webber was presented with a cheque for £150,000 after completing seven walking marathons in seven days

The Chilean praised Tottenham Hotspur manager Mauricio Pochettino ahead of the capital clash

14:00

Clapton manager Jonny Fowell says they will not worry about the threats Sporting Bengal pose, but insists they will have to shut down former Tons striker Jay Knight.

13:00

West Ham United return to action in the Premier League on Saturday when they welcome fierce rivals Tottenham Hotspur to the London Stadium.

A teenager has been found guilty of “hunting” and murdering Israel Ogunsola with a knife in central Hackney.

Mauricio Pochettino and Harry Kane urge Spurs to kick on following record-equalling league start

Two east London clubs will go head-to-head at the Mile End Stadium this evening

Wembley Stadium plays host to the second of its three NFL games of the season on Sunday and fans will be hoping that they are treated to a better game than last week’s one-sided contest between the Seattle Seahawks and the Oakland Raiders.



Newsletter Sign Up

Hackney Gazette twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read sport

Show Job Lists