Breaking news: Kroenke makes move for Arsenal

Breaking news: Kroenke makes move for Arsenal

ARSENAL DANNY FISZMAN SELLS THIRD OF ARSENAL STAKE TO STAN KROENKE
Danny Fiszman today formally announced to the market that he has sold one third, or five thousand, of his Arsenal shares to Stan Kroenke for £8,500 a share – or £42.5 million.
This takes Silent Stan’s holding in the club to 20.5% or 12,756 and takes Danny Fiszman down to 10,025 or 16.1%. The spin in the official announcement is that Stan Kroenke is strengthening his commitment to the club and that the other parties to the so-called “lock-down” agreement have all agreed to the sale.   
What is beyond doubt is that Danny Fiszman has increased his already massive wealth. So much for his commitment to Arsenal. Many voices have been saying for a long time now that Fiszman was a seller at the right price. It appears they were right.   
Let’s be clear. This deal will do nothing to help Arsenal financially. Not a tanner of the money paid by Stan Kroenke will go into the club’s coffers. Every penny will be trousered by Danny Fiszman. No doubt his accountants have worked out how to avoid paying tax on the huge profit he’s just made, using his Swiss resident status.   
From now on we can expect Danny Fiszman’s influence to wane at the club and Stan Kroenke’s to increase. Danny’s protestations of love for the club always sounded hollow to me. He loved the club so much he missed huge numbers of the games. How can you follow a football club when you’ve tied yourself for tax reasons to no more than ninety nights a year in the country?   
I confess to a personal prejudice against tax exiles. I can’t abide Louis Hamilton’s repeated statements of love for Britain. He loves the place so much he lives in tax exile in Monte Carlo. What is it about having more money than most people could ever dream of that turns them into greedy bastards?   
I’m sure Arsenal Supporters’ Trust is on the case. Good luck fellas. We now need to see what Red & White and Lady Nina Braceswell-Smith’s responses are. The chances of Lady Nina Bracewell-Smith finding a buyer for her shares have just diminished I would have thought. Not too many investors out there looking for a big minority stake in a football club with little prospect of majority control.   
The principles set down by Arsenal Supporters’ Trust of no hostile takeover, plurality of ownership and a stake for supporters are more important than ever.   
 

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