Arsenal Rejects Takeover Speculation

Arsenal has dismissed reports of a £1.5 billion takeover bid from a Middle East consortium, adding that majority owner Stan Kroenke has no intention of selling his stake in the under-fire Barclays Premier League side.

Reports in the Sunday Telegraph claimed that the consortium, backed by funds from Qatar and the United Arab Emirates, had already requested a meeting with the American billionaire, ahead of what would be a record takeover bid for a football club. 

The newspaper stated that the bidders would like to unite Arsenal’s ownership, putting all the shares together in one fund. The offer is said to be for the full 62,217 shares which have been issued, paying around £830 million for Kroenke’s 66.83% shareholding.

Russia’s richest man Alisher Usmanov, who has no seat on Arsenal’s board, has repeatedly stated his wish to secure outright ownership of the club and the billionaire – along with his business partner Farhad Moshiri – have steadily increased their stake to 29.96% through Red and White, their investment vehicle. 

Media reports also added the consortium believes it can work with Usmanov and would provide substantial transfer funds and lower ticket prices at the Emirates Stadium.

Ticket prices – amongst the most expensive in world football – along with the sale of star players such as Robin van Persie and Cesc Fabregas has led to fan criticism of the Kroenke regime, with the current crop of players and the long-term manager, Arsene Wenger, under increasing pressure following some under-par performances. The problems were compounded by a 2-1 defeat to fierce local rivals Tottenham Hotspur on Sunday.  

Wenger’s side, also knocked out of the Capital One Cup and the FA Cup by Bradford and Blackburn respectively, also languish in fifth place in the Barclays Premier League and look unlikely to progress any further in the Champions League after losing the first leg of their last-16 tie with Bayern Munich 3-1 at the Emirates.

In response, Arsenal communications director Mark Gonnella told Reuters: ‘Stan Kroenke is committed to Arsenal for the long term and has no intention of selling his stake. There has been no contact from any potential investors.’

Gonnella also added that Kroenke, who also owns the National Football League’s St Louis Rams, had never sold any of his sports investments.

The speculation comes a week after the club announced a profit of £17.8 million in the club’s latest half-yearly results, with cash reserves also up £7 million to £123.3million.