Arsenal shareholder Stan Kroenke has launched an all-cash £1.8billion bid for 100% control of the North London club.
The American tycoon is currently the Gunners’ majority owner, with the second-highest shareholder Alisher Usmanov agreeing to sell his stake in the club.
A statement from Kroenke Sports Entertainment reads: “KSE UK is pleased to announce the terms of its all-cash offer to acquire the entire issued and to be issued ordinary share capital of Arsenal Holdings PLC other than the Arsenal Shares already held by KSE.”
Mr 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.”
OPINION
This move from Kroenke has been anticipated for some time now. The American has been the big power at the Emirates Stadium for many years, so it’s unlikely too much will change once he’s in 100% control of the club. Gunners fans will be hoping that more money is made available in future transfer windows, of course, with former boss Arsene Wenger famously reluctant to spend big for many years. Whether that will materialise or not remains to be seen, but the club has certainly backed new manager Unai Emery in the transfer window so far this summer. Usmanov must be doing well out of the deal for him to agree to sell, as the Uzbek has had somewhat of a fractious relationship with Kroenke during their time together at the club. If nothing else, having one sole owner should give the club a more focused direction than it might previously have had. Whether that is the right direction or not, only time will tell.