Arsenal on the brink of being taken over by Stan Kroenke

Posted: April 12, 2011 in English Premier League
Tags: , , , , , ,

It was reported on 10th April 2010 that Stan Kroenke, the majority shareholder of Arsenal Football Club was in advanced talks to complete the takeover of Arsenal. The following day, it was announced that he increased his shareholding in Arsenal to 62.89% by purchasing the stakes of Danny Fiszman and Lady Nina Bracewell-Smith, and agreed to make an offer for the rest of the club valuing the club at £731M.

Arsenal

However, earlier today the Arsenal Supporters’ Trust (AST) have voted not to sell the club to Kroenke stating that “the club is too important to be owned by one person.” Due to Kroenke’s purchase of shares yesterday he is now obligated to make a mandatory cash offer for the rest of the shares.

The AST is looking for assurances of fan involvement in the ownership of the club and is not necessarily against StanKroenke’s takeover of Arsenal according to a statement made earlier today.

 

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