Arsenal supporters slam 'dreadful' USA sports mogul takeover

Arsenal supporters slam 'dreadful' USA sports mogul takeover

Kroenke's offer to shareholders values the Gunners at £1.8bn.

Arsenal majority shareholder Stan Kroenke has bid £600m to take full control of the Premier League club.

"Unfortunately, I have no control in this club", Usmanov told CNN in 2015.

Mr Kroenke, who owns 67.09% of Arsenal through KSE UK, has received "an irrevocable undertaking" from Russian billionaire Alisher Usmanov to sell his 30% stake in the club.

The statement on the London Stock Exchange said KSE, a DE corporation owned by Kroenke, holds 41,743 Arsenal shares.

"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.

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'Incredibly sad day for so many of our fan shareholders that no longer own a part of this club, ' said Wright.

While Usmanov, who launched a takeover bid of his own earlier in the year, had spoken about making a serious investment in the playing squad at the Emirates Stadium.

Mr Usmanov will receive £550m for his holding, based on the share price of £29,419.64.

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In a statement, Red and White Securities confirmed their acceptance of the deal on offer from KSE.

Arsenal have endured a hard period on the pitch in recent seasons, last winning the league in 2004 and failing to qualify for the lucrative Champions League for the past two seasons.

Kroenke is also the owner of American football team the Los Angeles Rams, basketball team the Denver Nuggets, hockey team Colorado Avalanche and major league soccer outfit the Colorado Rapids.

To do that he has a loan agreement with Deutsche Bank to lend him £557m, allowing him to fund the takeover.

Nevertheless, the club's ownership, and Kroenke's wealth, is theoretically at risk until the debt is settled. Arsene Wenger ended his 22 years as manager after a sixth-place finish last season and has been replaced by Unai Emery.

When you have this single ownership, particularly when it will be set up in the United States, it lacks a bit of transparency.

"Many of these fans. hold their shares not for value but as custodians who care for the future of the club".

"Kroenke's actions will neuter their voice and involvement".

Billionaire Stan Kroenke's deal to take Arsenal private has been criticised by the supporters' trust as a "dreadful" day for the English Premier League club.

"The AST is wholly against this takeover".

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