Arsenal Deny Takeover Interest, Kroenke has ‘no intention of selling’

March 3, 2013

Arsenal Football Club have curtailed reports they have been approached over a potential takeover and insist majority shareholder Stan Kroenke has no plans to sell up.

Reports claimed a Middle East consortium are preparing a £1.5b ($2.25bn) bid to buy out the Premier League club at around £20,000 a share.

However, the club insist they have received no contact from potential bidders and that Kroenke would have no intention of selling his controlling stake.

“Stan Kroenke is committed to Arsenal for the long term and has no intention of selling his stake,” said Mark Gonnella, the club’s communications director.

“There has been no contact from any potential investors.”

“I don’t know anything about it, I heard it like you (in the newspapers),” team manager Arsene Wenger said after the 2-1 north London derby defeat by Tottenham at White Hart Lane.

“You are only vulnerable if you want to sell and you need money. (However), that doesn’t concern me at all, that is down to the owners.”

Kroenke, who owns a number of sport franchises in Colorado, holds 66.83% of the club, having pushed through a £430million ($646m)-plus takeover in April 2011. Uzbek oil magnate Alisher Usmanov, who holds a 29.96% stake in the club, is believed to be similarly reluctant to consider cashing in.

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