Sports: American | Stan Kroenke

Publications by New Journal Enterprises

Home

Archive

Competition

Camden New Journal - by TOM FOOT
Published: 18 September 2008

US sport tycoon Kroenke to join Gunners board

AMERICAN sports tycoon Stan Kroenke is set to become a member of Arsenal’s board in a move aimed at blocking any hostile takeover bid by Russian billionaire Alisher Usmanov.
Kroenke, who owns 12.38 per cent of Arsenal, is expected to be invited to become a board member at a
private meeting today (Thursday).
Speculation that Usmanov is preparing to buy Arsenal has been rife since the Russian upped his stake in the club to 24.9 per cent last November. It made him the largest single shareholder at Arsenal and if he secures two per cent more he would be able to launch a bid to buy the entire club.
Arsenal directors immediately signed an agreement pledging not to sell any more shares to Usmanov, and if Kroenke joins the board he will have to agree to the same terms.
The Gunners are one of the last big Premiership clubs not to be
bank-rolled by a foreign owner.
The Abu Dhabi United group, which bought Manchester City, immediately spent £33 million for Brazilian midfielder Robinho.
The high-profile signing led to calls from disillusioned Arsenal fans for the board to sell-up to a foreign owner to allow Arsene Wenger to compete in the transfer market.

Comment on this article.
(You must supply your full name and email address for your comment to be published)

Name:

Email:

Comment: