Arsenal power struggle gets red hot as Stan Kroenke makes £525m offer to buy Alisher Usmanov’s shares
The American has made a play in the battle of the billionaires to strengthen his majority stake, according to reports
ARSENAL majority shareholder Stan Kroenke has bid £525million to buy-out rival Alisher Usmanov, according to reports.
Usmanov has made a number of attempts to buy-out the American with the last being turned down in May.
But the are now reporting the battle of the billionaires has taken a twist with Kroenke offering Usmanov £28,000 per share for his 30.4 per cent stake.
If Kroenke does manage to convince the metals magnate to sell, he would then own 97 per cent of Arsenal and be able to push out any of the minority shareholders.
Usmanov, from Uzbekistan, put a whopping £1BILLION offer on the table for Kroenke's 67 per cent stake which was promptly rejected by Korenke.
However, despite the turning of the tables, Arsenal fans remain worried.
Kroenke first bought shares in Arsenal in 2007, when he bought 9.9 per cent of the club.
Since then he has gone on to invest around £700million in the club.
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But if the Gunners became a privately owned company, there would be the chance for less transparency between members and the board.
On the news, the Arsenal Supporter’s Trust said: “The real concern is that he would take the club private.
“In what’s called a squeeze out, by making a compulsory purchase of all shares.
“That would mean Arsenal would become a private company, with no AGM, no detailed accounts like we have now, all of which would reduce accountability.
"He would also have the option to register Arsenal in the United States, possibly Delaware where other KSE holdings are held.”
