Arsenal majority shareholder Stan Kroenke has made a staggering £525million offer to second-largest shareholder Russian Alisher Usmanov in a bid to gain full control of the club.
The power struggle at Arsenal FC has been hanging over the head of our club for much of the last decade, with Kroenke owning 67.5%, and Usmanov in control of 30% without getting a seat on the board.
Both shareholders have tried multiple times to gain full control of the club, with Usmanov reported to have launched a £1billion bid to buy the Gunners back in May.
Arsenal fans all over the world have regularly protested the American’s disinterested ownership, with Usmanov remaining a much more popular figure among club supporters, but Kroenke still owns 67% of the club and basically unilaterally goes about taking each and every decision.
And now Guardian has published a report bringing in an unfortunate and grim twist to the power struggle stating that our majority shareholder Stan Kroenke has offered to buy Usmanov’s 30% stake in Arsenal at £28,000 per share – a move where, if accepted will make the American would become 97% shareholder and effectively ensuing the arrival of Doomsday for our 130 year old club.
Kroenke, a loyal supporter of consistently under-fire French manager Arsene Wenger, has been the subject of fans’ dissatisfaction and anger for quite a while owing to his definite lack of ambition and disinterest in any sort of genuine well being or emotions of the club except making a truckload of money and buying new stadiums for his other sports franchises.
Kroenke has bid £525m for Usmanov's 30.4% share of Arsenal. At 97.4% he'd force the club into private ownership. Very worrying times.
— FK ☕️ (@fkhanage) October 3, 2017
The Russian billionaire does not yet have a seat on the board despite being the second largest share holder and remains sidelined from any important business strategy.
He’s tried on a number of times to wrestle the club away from Kroenke but to no avail and honestly if he did sell you could not blame him. There will come a time when he will feel enough is enough but we just hope this is not that moment because here is what will happen if he raises a white flag and hands it all over.
Repercussions of Kroenke becoming the 97% stakeholder of Arsenal FC :If Kroenke does succeed it would put him in a position to squeeze out the minority 3% shareholders and presents the risk of Arsenal becoming a privately owned business.
Kroenke will inevitably turn the club into a private entity if he takes over Usmanov’s significant sizeable piece of the pie.
With the other shareholder having minimal and easily get able shares, Kroenke will have a multitude of possibilities to however so he pleases with the club. Once total control is guaranteed he can simply use it to leverage his other business ventures just like the beloved Glazers did with their own club.
Also a customary RIP to transparency, financial accounts publication and even the AGM as he would simple not need to answer to any freaking person on this planet.
Oh and the entire Arsenal registration could be shifted to the United States to be based under Kroenke’s KSE umbrella in Delaware. So amazing right.
Meanwhile a 2016 policy statement on the AST website reads :
“The AST continues to believe that Arsenal is too important to be owned by any one person,” The best ownership model for Arsenal will always include supporters being represented and involved in the ownership structure as shareholders. “We understand the reality that any stake in Arsenal is available to buy at any time should someone make an acceptable bid, but we will oppose any attempt to buy the club outright and take it into single ownership.”
More details will definitely be heard when the next AGM takes place on the 26th of October. Quite an eventful one we are assuming.