Stan Kroenke is poised to launch a full takeover of Arsenal after agreeing deals to buy shares owned by Danny Fiszman and Lady Nina Bracewell-Smith.
Kroenke, who already owns 29.9% of Arsenal will acquire the 16.1% owned by Fiszman and Lady Bracewell-Smith’s 15.9% stake for about £11,000 a share, or £225m according to BBC Sport.
Because Kroenke will cross the 30% ownership threshold with these purchases (he will be at 62%), he must make an offer to buy out all the remaining shareholders at about £11,000 a share.
At that price, Arsenal have a market value in the region of £750m. With them carrying debts of £147m, the deal values the club at £900m.
Gunners fans have become frustrated by the team’s lack of silverware in recent seasons, and the Arsenal Supporters Trust extended a cautious welcome to news of Kroenke’s takeover move.
“Stan Kroenke has a good relationship with the AST and recently supported our Fanshare scheme,” it said in a statement. “We are hopeful of having discussions with him on how our members and Arsenal supporters can keep their shares in Arsenal FC.”
Huge news for Arsenal. The Gunners are currently the only one of the Premier League’s top four teams not currently under outright foreign ownership.
It will be interesting to see if Kroenke will change Arsenal’s direction in the transfer market this summer, or whether he will continue with the philosophy of buying younger, cheaper players that Arsene Wenger can then mould for his style of play.
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