Arsenal Shares Not For Sale, Says Under Fire Owner Stan Kroenke
May 22, 2017
Arsenal majority shareholder Stan Kroenke has strenuously denied suggestions he could sell his stake in the club, despite fan displeasure and takeover rumours.
Last week it was reported that Russian businessman Alisher Usmanov had tabled a £1bn bid to take over Arsenal.
However, in a statement released through Kroenke Sports and Entertainment, it appears the US tycoon is in no mood to cash in on his shares despite fans voicing their displeasure on the final day of the season when Arsenal failed to qualify for next season’s Champions League.
“KSE UK, Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms its shares are not, and never have been, for sale.
“KSE is a committed, long term investor in Arsenal and will remain so.”
Usmanov increased his share in Arsenal last year, having first bought his way in back in 2007. His share currently stands at 30 per cent.
The oligarch previously voiced concerns with Kroenke’s stewardship and said in April that he must “bear huge responsibility” for the club’s on-field problems.
Arsenal finished fifth in the Premier League on Sunday for the first time in Arsene Wenger’s 21 years as manager, and speculation over his future has created a cloud of uncertainty over the club for much of the year.
Wenger has said that a decision between himself and the board on next steps will be made after the FA Cup final against Chelsea this coming week.
