KXIP vs KKR Live Score

Mr Kroenke, through his wholly-owned Kroenke Sports & Entertainment, now holds a 67% stake in the London club.

Under takeover rules, if Usmanov accepts the offer it would trigger the sale of the remaining minority shareholders' shares, many of whom have preserved a small holding for decades, and place the club under the private control of Kroenke.

KSE, the American billionaire's company, currently owns 67% of the club and now says that Alisher Usmanov has agreed to sell his 30% stake.

The main Arsenal fan group said Kroenke mounting full control "marks a awful day" for the club, which is preparing for its first season with Unai Emery as coach after Arsene Wenger's 22-year reign ended.

KSE added in a statement: "KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions".

The agreement between Kroenke and Deutsche Bank pledges his entire company, stating, 'all of the issued and outstanding shares of capital stock of KSE at any time owned by the Pledgor, ' has been provided as collateral to secure the loan.

Apart from Arsenal, Kroenke's "family portfolio" of assets also include NFL side Los Angeles Rams, the NBA's Denver Nuggets, the NHL outfit Colorado Avalanche, MLS side Colorado Rapids and Colorado Mammoth of the National Lacrosse League.

Both have made offers for each others' shareholdings but it was a battle Usmanov was never likely to win as his shareholding did not give him a seat on the board.

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents", he said.

Fognini Stuns del Potro to Win First Hard Court Title
Fabio Fognini has defeated Juan Martin del Potro in straight sets to claim the ATP Tour 250 event in Los Cabos, Mexico . Del Potro traded breaks with his third-seeded Bosnian opponent in the first two games of their Friday-night semi-final.

Kroenke, a majority shareholder with 67 per cent, submitted an offer to acquire Alisher Usmanov's 30 per cent with a view to a full takeover of the club.

Stan Kroenke has launched a £1.8billion to take complete control at Arsenal.

Stanley Kroenke is an American entrepreneur and businessman who owns Kroenke Sports and Entertainment (KSE).

"Many of these fans. hold their shares not for value but as custodians who care for the future of the club".

The deal comes at a crucial time for the North London club, which embarks on life without long-time manager Arsene Wenger, who stepped down in April after 22 years in charge.

His comments were echoed by the Arsenal Supporters' Trust, an independent group representing fans who fear their influence will be diminished. "Kroenke's actions will neuter their voice and involvement", the Trust said in a statement. "Arsenal remains too important to be owned by any one person".

"The AST is wholly against this takeover".

Arsenal have not won the English Premier League since an unbeaten campaign in 2004.


COMMENTS