Arsenal agrees £731m Kroenke takeover

first_img Share Arsenal agrees £731m Kroenke takeover John Dunne Show Comments ▼ Monday 11 April 2011 5:17 am whatsapp Premier League club Arsenal said it had agreed to be taken over by American billionaire Stan Kroenke in a deal which would value the club at £731m.Kroenke, who already owns close to 30 per cent of the North London club, said he had offered Arsenal shareholders 11,750 pounds per share and had already secured the backing of 16.1 percent shareholder Danny Fiszman and 15.9 per cent shareholder Nina Bracewell-Smith.Kroenke, who owns several major sports teams in the United States, now controls 63 per cent of the club, which currently lies second in the league behind rivals Manchester United.“Arsenal is a fantastic club with a special history and tradition and a wonderful manager in Arsene Wenger. We intend to build on this rich heritage and take the club to new success,” Kroenke said in a statement.Arsenal have gone six years without a trophy since their FA Cup success in 2005 and fans have been frustrated as their spending on players lagged behind rivals such as Chelsea and Manchester City.Manager Wenger welcomed the takeover.“I have worked with Stan Kroenke at board meetings over the past couple of years and I believe he has the best interests of Arsenal at heart. He understands the club’s heritage and traditions and our ambition to run the club in a way which protects our long term future,” he said.Under Takeover Panel rules, Kroenke is now compelled to make an offer for the remaining shares.Russian steel magnate Alisher Usmanov is Arsenal’s other major shareholder, holding a 27 per cent stake through his Red and White vehicle. center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULLlast_img read more

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