Arsenal majority shareholder Stan Kroenke has made a staggering £525million offer to second-largest shareholder Alisher Usmanov as he seeks to assume full control of the club.
Arsenal fans have regularly protested the American’s ownership, with Usmanov remaining a more popular figure among club supporters, but Kroenke still owns 67% of the club.
The duo do not have a working relationship, which is hardly a healthy situation for the club.
Should Usmanov accept Kroenke’s offer, the purchase would take his stake in the club to 97%, with the remaining shares divided among minority shareholders, according to the Guardian.
A third consortium of Arsenal fans, with heavy financial backing, have also tried to get involved – offering Kroenke £32,000 per share – which values Arsenal at £2bn.
That’s £4,000 per share more than the American is offering Usmanov, and a spokesman for the consortium expressed their desire to take control amid concerns at Kroenke’s plans.
‘We absolutely retain an interest,’ the spokesman told the Guardian. ‘We are a group of experienced local business folk who have had a longstanding involvement with Arsenal. We came together three years ago with a vision to dislodge the impasse that exists with the current ownership.
‘We wanted to find an alternative. Our group have spent three years searching for the right backer. After our own due diligence we were delighted to have found that a year ago. We have gone out to find the money for Mr Kroenke and Mr Usmanov to make a huge profit and for us to get the club back where it should be challenging at the top.
‘If Kroenke were to get to 97 % he can force Arsenal into becoming a completely private company. That would be a major concern for everyone involved in Arsenal. At that point transparency would be a real minimum.’
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