OMG! Alisher Usmanov Confirms £550m Sale Of Arsenal Shares To Stan Kroenke (Details) - SportDab - Sport News

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Tuesday, 7 August 2018

OMG! Alisher Usmanov Confirms £550m Sale Of Arsenal Shares To Stan Kroenke (Details)

Arsenal shareholder Alisher Usmanov has confirmed sale of his £550m shares of the Premier League club, reports. 

Kroenke owns 67% of Arsenal and the 71-year-old revealed on Tuesday that he had tabled an offer to buy the rest of the shares through his company Kroenke Sports and Entertainment (KSE).

Russian Billionaire Usmanov has now decided to end his 11-year stay with the Gunners and agreed to sell his shares to Kroenke.

'I have decided to sell my shares in Arsenal Football Club which could be the best football club in the world,' a statement from Usmanov's company Red and White Holdings read.

'I wish all the best and great success to this wonderful football club and to all those wholes lives and careers are entwined in it.'

Kroenke, who submitted his offer to Usmanov on Tuesday believes a KSE takeover would match the 'club's strategy and ambitions' .

"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."

"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."

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