Kroenke set to buyout Usmanov in £1.8 billion Arsenal deal


What has led to Arsenal being owned exclusively by Stan Kroenke?

Speculation also emerged in 2017 that Usmanov was looking to buy Kroenke's shares with the minority shareholder reportedly offering £22,000 per share.

Stan Kroenke, who owns 67% of Arsenal FC, has made an offer to buy the remainder of the club.

"This news marks a terrible day for Arsenal Football Club", said the AST's official statement.

'The most awful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans.

Kroenke has reportedly had a £600 million (US$778 million) bid for Usmanov's 30 percent stake in the London club accepted, boosting the USA businessman's current 67 percent share ownership.

"I think it's very sad that we're in danger of losing any transparency into how our club is run", he said.

The deal, which values the club at £1.8 billion, would end a decade-long battle between the two billionaires for control of Arsenal.

"Many of these fans are AST members and hold their share not for value but as custodians who care about the future of the club".

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The American billionaire's decision to make his latest offer comes from his belief that taking the club private with a single, long-term owner will benefit them with respect to moving quicker in accordance to their strategy and ambitions.

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

"The most awful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans", the Trust said.

It also said that Kroenke would be able to "implement detrimental actions", including "pay [ing] management fees and dividends without any check or balance" and "plac [ing] debt onto Arsenal to support his other business interests".

It added that it was "in effect legalised theft to remove a brake on how Arsenal is managed".

According to Forbes, Kroenke has an estimated net worth of £6.4bn ($8.3bn).

The journey has not always been smooth for the United States sports mogul, whose interests include the Denver Nuggets basketball team and the LA Rams American football franchise. He began building his stake in Arsenal in 2007 after buying a 9.9% holding from ITV.

Arsenal have not won the English Premier League since an unbeaten campaign in 2004. Unai Emery, the former manager of Paris Saint-Germain, was appointed in his place.

Deutsche Bank is advising KSE on the takeover deal.