Stan Kroenke’s controlling interest in Arsenal has been officially ratified by the Premier League and the American has given other shareholders a fortnight to accept his unconditional offer for their holdings.
Kroenke currently owns 66.06 per cent of the Gunners following the sale of shares from former directors Lady Nina Bracewell-Smith and the late Danny Fiszman.
With the Premier League approving the club’s change of ownership, Kroenke has given the club’s remaining shareholders 14 days notice on his unconditional offer to own 100 per cent of the club.
Arsenal’s second largest shareholder with 27.37 per cent, Alisher Usmanov, has already insisted he will not sell to Kroenke, as have the Arsenal Supporters’ Trust, who own some of the remaining shares. Regardless of the outcome, chairman Peter Hill-Wood claimed there was an exciting future at the club.
“The club is very pleased to announce the Premier League Board has confirmed the change of control processes under the rules of the Premier League have been concluded to its satisfaction in relation to Stan Kroenke’s control of the club,” he said in a statement.
“KSE’s (Kroenke Sports & Entertainment) offer for Arsenal Holdings PLC is wholly unconditional and we now look forward to a new and exciting phase in the life of the club. The plan is to maintain the PLUS listing provided there are a sufficient number of shareholders for that to be permitted.”
Receive a digest of our best Arsenal content each week direct to your mailbox
