AST react to Kroenke offer to buy whole of Arsenal

Arsenal majority shareholder Stan Kroenke has launched a bid to take over the whole club.

The American tycoon is suggested to have made a £600m offer to buy the remaining shares in a deal that would value the Gunners at £1.8bn.

Kroenke currently boasts 67% stake in Arsenal through his company KSE.

However, a company statement claim Alisher Usmanov has agreed to sell his 30% stake in the club. Adding that taking the club private will help to further Arsenal’s “strategy and ambitions”.

Arsenal’s Supporters’ Trust have marked the news as a “dreadful day” for the club”.

Fans have held a frosty opinion of the Kroenke family since their takeover in 2011.

“Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values,” said an AST statement.

Usmanov is expected to sell his 30% stake to Kroenke

AST added that by becoming the 100% owner, Kroenke would be able to take “detrimental actions” such as paying “management fees and dividends without any check or balance”.

It added: “The AST is also extremely concerned to note that this purchase is being funded by a loan.

“The AST is wholly against this takeover which marks a very sad day for Arsenal football club.”

Seizing Usmanov’s shares would take Kroenke to 97 per cent ownership and would lead to the compulsory purchase of the remaining shares, some of which are owned by Arsenal fans.

Single ownership could see less transparency for Arsenal fans, particularly with the set up in the United States.

Thoughts, Gooners? Let us know in the comments…