Sky Exclusive: U.S. tycoon Stan Kroenke in advanced talks to take control of Arsenal

[Joss]

Breaking news on twitter. Sky Sources are claiming that Stan Kroenke is in advanced talks to take full control of Arsenal F.C. - a move which would end Arsenal's long-term policy of resisting such a takeover, but one which is likely to be greeted by most Arsenal fans with significantly more optimism than should Alisher Usmanov be planning a takeover.

Will post a link if and when one comes up, but what does everyone think? I'm still resistant to any foreign investor taking over our club, but from what I've heard, he has a good record in Sports, and this doesn't necessarily mean he'll put up a load of cash for Wenger to use, which suggests he understands the ethics of Arsenal and isn't going to put us in a similar situation to Chelsea, Liverpool or even Manchester Utd in terms of making losses and racking up huge debts.

---------- Post added at 06:06 PM ---------- Previous post was at 05:29 PM ----------

Brilliant article written last year by Swiss Ramble (Gooner and Football finance expert) on Stan Kroenke: The Swiss Ramble: Is Stan The Man For Arsenal?

"Kroenke has pointed out that none of his sporting ventures in the United States operate in this way and he has never done a leveraged buy-out."

 

[Mike.]

been following this for a long time, definitely the lesser of two evils, the other being Usmanov

 

[Joss]

been following this for a long time, definitely the lesser of two evils, the other being Usmanov

Exactly how SwissRamble described it, and as I see it:

Ivan Gazidis reassured Arsenal fans, “He believes that the manager should be in charge of what happens on the pitch and his role is to support the manager – not to make a big fuss about his involvement.”

Wenger: "The only important thing is that the club is run properly in every department. And the most important department in any football club is what happens on the pitch. As long as who owns the club doesn’t interfere with what we do on the pitch, for me it's OK.”

 

[Mike.]

Exactly how SwissRamble described it, and as I see it:

Ivan Gazidis reassured Arsenal fans, “He believes that the manager should be in charge of what happens on the pitch and his role is to support the manager – not to make a big fuss about his involvement.”

Wenger: "The only important thing is that the club is run properly in every department. And the most important department in any football club is what happens on the pitch. As long as who owns the club doesn’t interfere with what we do on the pitch, for me it's OK.”

Usmanov would want to be more hands on, and i guarantee there would be a clash with Wenger

 

[Joss]

Usmanov would want to be more hands on, and i guarantee there would be a clash with Wenger

AW made it clear he wouldn't work under him, but is more open to Kroenke who shares similar ideals:

18. What is Arsene Wenger’s view?

While it is rumoured that Wenger has made it plain to the Arsenal board that he would not work under Usmanov, he has been far more balanced in his reaction to a possible Kroenke takeover, “The only important thing is that the club is run properly in every department. And the most important department in any football club is what happens on the pitch. As long as who owns the club doesn’t interfere with what we do on the pitch, for me it's OK.” A veiled warning not to meddle in football matters, but hardly unexpected.

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The Telegraph claim: "Stan Kroenke has reached agreement for shares of both Fiszman and Lady Bracewell-Smith.Takes him to 62%.Full takeover offer follow"

 

[Mike.]

AW made it clear he wouldn't work under him, but is more open to Kroenke who shares similar ideals:



---------- Post added at 06:27 PM ---------- Previous post was at 06:24 PM ----------

The Telegraph claim: "Stan Kroenke has reached agreement for shares of both Fiszman and Lady Bracewell-Smith.Takes him to 62%.Full takeover offer follow"

Wenger, like SAF understand the boardroom, but will not brook any inteference in his area

 

[Joss]

Wenger, like SAF understand the boardroom, but will not brook any inteference in his area

He has an economics background, so knows how to help run the club financially.

Hadn't realised Ivan Gazidis (Arsenal Chief Ex.) was Kroenke's suggestion.

 

[Mike.]

He has an economics background, so knows how to help run the club financially.

Hadn't realised Ivan Gazidis (Arsenal Chief Ex.) was Kroenke's suggestion.

Kroenke is his own man though, Wenger would do well not to impinge too much in the boardroom

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either way, its better than Usmanov, he is more like Abramovich

 

[Joss]

Sky sources understand that American Stan Kroenke is in advanced talks to take control of Arsenal.

Kroenke is the largest shareholder in the Gunners already owning a 29.9 per cent stake, indeed purchase of another 0.09 per cent of the shares would mean he has to make a bid for the rest of the club's shares.

Uzbek billionaire Alisher Usmanov also has over 20 per cent stake in the club - but now Kroenke has made a move to secure full control.

Sky sources understand that Kroenke has come to agreement with fellow shareholders Danny Fiszman and Lady Nina Bracewell-Smith to purchase their shares.

Fiszman and Bracewell-Smith both own 16 per cent, and if Kroenke confirms those deals then under stock market rules, a takeover bid would be triggered.

Kroenke first took a stake in Arsenal in 2007 when he purchased the 9.9 per cent which was owned by Granada.

Kroenke has major interests in sporting teams throughout America as his company also owns the Denver Nuggets of the NBA, Colorado Rapids of Major League Soccer and the NFL's St. Louis Rams.

Kroenke makes Gunners move | Sky Sports | Football | Premier League | News

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BBC Sports Editor David Bond confirms Kroenke has agreed deals to buy Arsenal shares of Danny Fiszman & Lady Nina Bracewell Smith.

 

[Calum]

so we have a new chairman now?

 

[Joss]

so we have a new chairman now?

I'm not sure.

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EVERYONE with a UK bank account start buying Fanshares NOW! If AU doesn't sell out to Kroenke and we can get to 10.1% we can stop this. GO!

 

[curtis290]

Not sure if this is good or bad for Arsenal...as long as he keeps the books balanced and doesn't interfere with Wenger than it's good for Arsenal. That's the only thing their chairman needs to do right now.

 

[Mike.]

Not sure if this is good or bad for Arsenal...as long as he keeps the books balanced and doesn't interfere with Wenger than it's good for Arsenal. That's the only thing their chairman needs to do right now.

its a case of "it could be worse" i.e Usmanov

 

[philly]

Very weird time to be doing a takeover.
Would rather we weren't taken over, but if we are to be, I'm glad it's Kroenke

 

[Joss]

its a case of "it could be worse" i.e Usmanov

It's not as simple as that. I will resist any takeover in whatever way I can (I'm not going to sell a season ticket or burn the gates but you know...)

I would rather we weren't taken over at all and despite Kroenke's rep, we can't yet trust hi yet. He may well be entirely trustworthy, though & could keep things exactly as they are set up now, while having a larger stake and influence in the club meaning he can ultimately take it forward.

But it's not even about whether it's successful or not - the point is that we want to run our own club, not have some foreign investor take full control - be it Kroenke or Usmanov.

 

[Mike.]

It's not as simple as that. I will resist any takeover in whatever way I can (I'm not going to sell a season ticket or burn the gates but you know...)

I would rather we weren't taken over at all and despite Kroenke's rep, we can't yet trust hi yet. He may well be entirely trustworthy, though & could keep things exactly as they are set up now, while having a larger stake and influence in the club meaning he can ultimately take it forward.

But it's not even about whether it's successful or not - the point is that we want to run our own club, not have some foreign investor take full control - be it Kroenke or Usmanov.

it really is that simple, lets be honest a takeover was coming, its been coming a long time, and Kroenke is the lesser of two evils

 

[Lol_101]

finacialy strong, just that AW doesnt have enogh money to buy good players. Ivan Gladis was also metioned about the transfer move of Ashavin as the hardest one. still remeber how the dea was taaking lond and done by deadline.

Kroenke also owns other sport teamsin colarado, like colorado rapids, which is arsenals partner club

 

[Joss]

All you need to know about the takeover: Stan Kroenke finally poised to launch full takeover of Arsenal after agreeing deals to increase shareholding - Telegraph

AST is encouraged that Kroenke's offer states that he does not intend to 'de-list' Arsenal from the PLUS markets & pays full tribute to Danny Fiszman, who has been diagnosed with cancer.

Kroenke insists that any takeover will not riddle the club with debt...

“The AST believes that Arsenal is a stronger institution when supporters are directly involved in its ownership structure,” said a statement from the AST. “Stan Kroenke has always been a supporter of the AST and supporter shareholders. We expect him to involve us in talks about any plans he has.”

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so we have a new chairman now?

OK. No it doesn't mean we have a new chairman - Peter Hill-Wood has agreed to stay on as chairman, but Kroenke's shares now stand at 61.9% meaning he is obliged to make an offer for the remaining shares (once he goes over 30% threshold) and he is now in a position of more influence/authority regarding board decisions. He will remain a member on the board, and may well (hopefully will) keep things more or less as they are with plans to work with AST (Arsenal Supporter's Trust).

 

[Zebedee]

Riddling the club with debt is an understandable fear but the real danger is that the financial strait-jacket the club has been working under is not going to be lifted as it's milked for cash in the form of dividends. At least Kroenke is engaging with the AST though.

 

[Mike.]

Interesting time for a takeover though, wonder if he wants it done with a view towards summer outlay?