Categories: Sports

‘Arsenal Not For Sale’

Arsenal majority shareholder Stan Kroenke responded on Monday to speculation about a possible takeover by insisting his company KSE UK’s shares in the English Premier League club “are not, and never have been for sale”, AFP reports.

In a brief statement to the London Stock Exchange, headlined “Response to media speculation”, KSE said, “KSE UK Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms that its shares are not, and never have been, for sale.”

It added, “KSE is a committed, long-term investor in Arsenal and will remain so.”

The statement came after last Friday’s Financial Times reported that Russian billionaire Alisher Usmanov had made a $1.3bn bid to take control of Arsenal from Kroenke.

Uzbekistan-born Usmanov owns 30 percent of Arsenal League club and is said to have recently made the offer in a letter to American sports entrepreneur Kroenke, who controls a 67 percent stake.

Usmanov, who made his fortune in the steel industry, had seen a previous bid for Arsenal rejected.

His criticism of Kroenke’s passive ownership style was echoed by increasing numbers of Arsenal fans this season, who were unhappy with what they saw as the board’s willingness to settle for on-field mediocrity so long as commercial stability was maintained.

Both ‘Silent Stan’, as Kroenke has been disparagingly nicknamed by some supporters, and Arsenal manager Arsene Wenger came under fire during s Premier League campaign that ended with the Gunners finishing fifth on Sunday.

That meant Arsenal missed out on a place in Europe’s elite and highly lucrative Champions League for the first time in 20 years under veteran boss Wenger.

The 67-year-old Frenchman has faced repeated calls to quit and bring to an end an Arsenal reign that started in September 1996 when his current contract expires at the end of this season.

Wenger has yet to clarify his future but reports in the British press over the weekend suggested he would accept a new two-year contract.

Arsenal has one last chance to end the season with a trophy when they face Premier League champions and London rivals Chelsea in the FA Cup final at Wembley on Saturday.

 

 

Source: Punch

hvzclarence

Recent Posts

Rivers Crisis: Why Arsonists Attack LG Secretariats – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has attributed the recent attacks…

4 hours ago

Adabanija: Over 10 People Arrested For Allegedly Criticising Oyetola

 Posts Capable Of Inciting People Against Minister – Loyalists Oyetola’s Aides Behind My Incarceration -…

6 hours ago

Mother Cries For Help As Vigilante Operatives Allegedly Torture, Rape 15-Year-Od  Daughter

..Alleges Police Of Foul Play The Mother of a 15-year-old girl, Helen Joseph, has called…

7 hours ago

Couple Remanded For Maltreating Minors

A couple, Abubakar Yuguda and Fatima Abubakar, were remanded on Tuesday by Chief Magistrate Musa…

7 hours ago

Kaduna Health Workers Begin Indefinite Strike

Health workers in Kaduna State, represented by three prominent professional organizations—the National Association of Nigerian…

7 hours ago

How 84 Nigerian Lecturers Died In Three Months Over Economic Hardship

No fewer than 84 Nigerian lecturers have died between May to August 2024 due to…

8 hours ago

This website uses cookies.