Owner Of 4 Pro Teams Takes Control Of One More, Arsenal

by lee on 28. May, 2011 in Featured

LONDON — Genuis business man and sports lover, Stan Kroenke finishes the take over of Premier League’s Arsenal soccer team.

Stan started buying shares in Arsenal over 4 years ago, and now has a stake of over 66%.

He has an offer on the table to buy the rest of the clubs shares. The offer has a two week shelf life.

He wants full control over the club so that he can take it private. Stan’s offer is for 11,750 pounds per share to the remaining shareholders.

Stan’s offer is now receiving some competition from Alisher Usmanov, who has offered 14,000 pounds per share.

If his offer is accepted, Stan would still have control over the club, but it would stay public.

Many fans aren’t happy about the club going private, and hope that anyone that is interested in selling shares, that they offer it to Arsenal Fanshare first.

As of now, Alisher Usmanov, ownes 27.37% of the club.

According to the AP, Kroenke said after the approval of the take over: “We will continue to grow the club’s presence globally while also adhering to the club’s self-sustaining economic model. The club has funds to invest and will do so wisely.”

Kroenke said goal is to continue to compete for championships and silverware.

The Russian, Usmanov, has never been invited to be on the board of directors like Stan, even though he is the second largest shareholder.