Kroenke set to take Arsenal full ownership 8 hours ago

Kroenke set to take Arsenal full ownership 8 hours ago

The American is the majority shareholder at the Emirates and has this morning launched an "all-cash" offer to acquire 100 per cent control, staging a bid to buy Alisher Usminov's stake in the Premier League club.

Usmanov and his company, Red & White Holdings owned 30% of the club's shares but has reportedly accepted a £540 million offer from Kroenke and KSE Holdings.

"I have made a decision to sell my shares in Arsenal Football Club which could be the best football club in the world", Usmanov said in a statement.

Under takeover rules, if Usmanov accepts the offer it would trigger the sale of the remaining minority shareholders' shares - many have preserved a small holding for decades - and place the club under the private control of Kroenke.

It added: "The most awful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans".

In October, KSE made a bid of around £525mln to buy the stake held by Usmanov's Red and White Securities Limited in October but it was rejected.

The contest between Kroenke and Usmanov have grown bitter over the years and so in a sense, Arsenal can now look forward to a period of stability.

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He first bought shares in Arsenal in 2007 before gaining majority control of the club in 2011. Usmanov will receive £550m for selling his stake based on a share price of £29,419.64, having seen a £1bn takeover offer rejected by Kroenke in May past year.

The Arsenal Supporters Trust (AST) issued a strongly-worded statement claiming the news "marks a awful day" for the club and #KroenkeOut was trending on Twitter in the United Kingdom by the middle of the morning.

Wilson's research suggests Kroenke's style of ownership, which he compared to an individual seeking to make profit from buying a house with a mortgage, can deliver success on the pitch and on the balance sheet.

The move comes at a crucial time for the club after Arsene Wenger stepped down as manager after 22 years to be replaced by Unai Emery.

Ian Wright has hit out at Stan Kroenke over the American businessman's plan to take full ownership of Arsenal.

The Russian made a bid to buy-out Kroenke a year ago but it failed and, with his business partner Farhad Moshiri owning Everton, Usmanov could invest the money he is set to receive from KSE into the Toffees and be made to feel much more welcome.

The deal between Kroenke and Deutsche Bank is an unusual one because KSE is not listed on any stock market, meaning the two groups must have come to a rough understanding about how much the company is worth. He believes that although it "removes the level of transparency that fans have had" not much will change in regards to how Arsenal are run.

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