OMG! Arsenal's Majority Shareholder Kroenke Submits Offer To Buy The Entire EPL Club (Details) - SportDab - Sport News

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Tuesday, 7 August 2018

OMG! Arsenal's Majority Shareholder Kroenke Submits Offer To Buy The Entire EPL Club (Details)

Arsenal majority shareholder Stan Kroenke has launched a move to take full ownership of the Premier League club with a bid that values the club at £1.8bn.


Kroenke already own 67% of Arsenal and has offered to purchase the remaining 23% from Alisher Usmanov's Red and White Securities firm.


Kroenke Sports and Entertainment would then take full control and ownership of the North London Club.


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.


What Does It Mean For Arsenal?


Kroenke belives taking total control of the club would increase their chances of success in the future.


The Gunners finished last season 6th 37 points behind Manchester City and last won the Premier League title in 2004.


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."


How Much Will Kroenke Pay??🤔


Kroenke's offer would make Arsenal's value rise to £1.8bn.


He has offered £300m for the 23% of shares of which he will pay £45m of his own money and will borrow the rest.


He has also said the borrowing will not be against the club.


"The offer is not being funded by way of any debt finance (bank loans, payment inkind loans or other debt or quasi debt interest bearing obligations) for which the payment of interest on, repayment of,or security for any liability (contingent or otherwise) will depend on the business of Arsenal," said the statement.


What Do Arsenal Fans Think??


There has been mixed reactions from fans all over the World and Sportdab.com.ng has the reaction of Tim Payton for you.


Arsenal Trust member Tim Payton tweeted: “Disastrous news for Arsenal. Looking set to be wholly owned by American investor. Will transfer business to the US. No accountability, no transparency, finances hidden. Supporter shareholders forced out. Custodianship dead.


“And the financing of the purchase of Arsenal shares being financed by loans. Arsenal being mortgaged so an investor American can make money out of the club.


“Taking this action in the week the new season starts just shows how little regard Kroenke has for the club. It’s what you get when club falls into hands of someone who doesn’t support the club but merely sees it as money making. RIP Custodian Arsenal.


What Do You Think??
Good Deal For Arsenal?? 🤔 🤔

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