Arsenal are one of the most promising contenders for the Premier League ahead of the commencement of the 2018/19 season. The Gunners are owned partly by two business one. American billionaire Stan Kroenke and his company KSE owns a 67% share in the football club. The rest 30% has been owned by Alisher Usmanov from Russia. The businessmen have put a club in a great place.
Stan Kroenke has a fortune of a wealth and as a result wants to take over Arsenal Football Club entirely. The club has had an evaluation of £1.8 billion by the London Stock Exchange on Monday. Kroenke and KSE are ready to ship out £600 million to buy the remaining stake of 30% from the Russian business entity.
Usmanov just has a share in the club’s finances and does not participate in its decisions. In May 2017, he offered to buy the whole club from Stan Kroenke. But his bid was rejected. In the statement to the stock exchange, Kroenke said KSE were “moving forward with this offer, leading to 100% ownership of the club” and they “appreciate Mr Usmanov’s dedication” to Arsenal.
BREAKING: Majority owner Stan Kroenke makes offer to buy @Arsenal in deal valuing club at £1.8bn. #SSN pic.twitter.com/IPn5Ibup0n
— Sky Sports News (@SkySportsNews) August 7, 2018
The statement added: “KSE’s ambitions for the club are to see it competing consistently to win the Premier League and the Champions League, as well as the major trophies in the women’s senior game and at youth level.”
KSE said that under “its stewardship since 2011 the club has invested in major transfers, player contracts, analytics, senior non-playing football management employees” and it “expects the club to build on those investments.”
To raise the amount close to the whopping £600 million, America’s business personality will pay £45 million from his own pocket. A loan of £557 million will be financed in order to pay off Usmanov. Kroenke has already stated that Arsenal Football Club will not be used as the collateral security for the borrowings raised by him.
“The offer is not being funded by way of any debt finance (bank loans, payment in kind loans or other debt or quasi debt interest bearing obligations) for which the payment of interest on, repayment of, or security for any liability (contingent or otherwise) will depend on the business of Arsenal,” said the statement.
Kroenke and his board of directors made a huge decision of appointing Unai Emery as their manager after the 2017/18 season. Arsene Wenger stepped down as the Gunners’ boss at the end of last season. The board has supported their newly appointed boss in the transfer market and will be hoping that the investments pay off. Arsenal host Manchester City at the Emirates Stadium in their opening fixture of the Premier League.
