Arsenal majority shareholder Stan Kroenke has just started a takeover battle with fellow billionaire Russia’s Alisher Usmanov for the club ownership.
Kroenke who owns 67% of the club has made an offer of $ 777 million which will make him take full control of the English club. Kroenke’s offer will see the billionaire’s share capital of the club rise to $2.33 billion.
In order for the majority shareholder of the club to acquire the full rights then he has to purchase the remaining 30% shares owned by Alisher USmanov.London Stock Exchange published the seal on Tuesday.
According to Forbes in 2015, Usmanov’s wealth is $12.8 billion with the tycoon becoming rich from his metals and communications companies.
The Uzbek-born businessman Kroenke through his company KSE said that they have received an “irrevocable offer” from Red and White Securities to accept the offer as soon as possible. Red and White Securities is owned by Russian tycoon Alisher Usmanov.
Already at Arsenal there is change in management position that saw the departure of Arsene Wenger and in came Unain Emery.Emry is a former Paris Saint Germain coach.
Arsenal finished sixth position last season and also played the second tier competition Europa League. Arsenal fans say Arsenal Supporters Trust ave been against Kroenke’s interest in the club full ownership terming the move a one that will be dreadful.
Kroenke’s company KSE also owns NFL LA Rams, NBA Denver Nuggets, NHL team Colorado Avalanche and MFL side Colorado Rapids. The takeover will call to an end for Arsenal supporters to own shares in the club