English Premiership

Kroenke seizes Arsenal control

2011-04-11 12:43
Stan Kroenke (File)

London - US sports tycoon Stan Kroenke has taken a controlling stake in Arsenal and has agreed terms to buy the remaining shares in the English Premier League club, both sides announced on Monday.

The deal values Arsenal at about £731 million, according to a statement issued to the London Stock Exchange.

If Kroenke gains complete control of the club, it will mean the top four English clubs are foreign-owned, reflecting the hugely lucrative status of the Premier League.

Kroenke Sports Enterprises (KSE) has boosted its stake from 29.99% to 62.89%, and terms have also been agreed for KSE to buy up the remaining share capital at the cost of £11 750 a share.

"We are excited about the opportunity to increase our involvement with and commitment to Arsenal," Kroenke, 63, said in the statement.

"Arsenal is a fantastic club with a special history and tradition and a wonderful manager in Arsene Wenger. We intend to build on this rich heritage and take the club to new success."

Wenger also welcomed the deal, saying: "I have worked with Stan Kroenke at board meetings over the past couple of years and I believe he has the best interests of Arsenal at heart.

"He understands the club's heritage and traditions and our ambition to run the club in a way which protects our long-term future."

Last month Kroenke increased his stake in Arsenal to within 10 shares of the threshold that forces him to make a takeover bid, when he acquired seven more shares at a cost of £8 500 each.

Kroenke, who first bought a stake of almost 10% in Arsenal in April 2007, also owns US Major League Soccer franchise Colorado Rapids, the NBA's Denver Nuggets and the NHL's Colorado Avalanche.

Foreign owners have flocked to the Premier League since television deals with Sky Sports helped make it the world's most lucrative domestic football championship and increased its global appeal.

Its most recent television deal for British and international broadcast rights, running from 2010-2013, has been valued at around £3.2 billion.

The deal represented £1.8 billion for domestic rights and £1.4 for international rights.

And the 2010-2013 terms increased sharply despite the global recession, showing a sharp rise on the previous deal which was worth £2.7 billion.

Arsenal are second in the Premier League table, seven points behind leaders Manchester United, who are owned by US tycoon Malcolm Glazer.

Chelsea are owned by Russian oligarch Roman Abramovich and fourth-placed Manchester City were taken over by Abu Dhabi's Sheikh Mansour.

Read more on:    epl


Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk
Most Read


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Wales wary of Giteau threat
LIVE: Canada 8-0 Romania
LIVE: Fiji v Uruguay
Habana proud of spirited Springboks
17 October 2015
Tottenham Hotspur v Liverpool, White Hart Lane 13:45
Manchester City v Bournemouth, Etihad Stadium 16:00
Everton v Manchester United, Goodison Park 16:00
Crystal Palace v West Ham United, Selhurst Park 16:00
Southampton v Leicester City, St. Mary's Stadium 16:00
Chelsea v Aston Villa, Stamford Bridge 16:00
West Bromwich Albion v Sunderland, The Hawthorns 16:00
Watford v Arsenal, Vicarage Road 18:30
18 October 2015
Newcastle United v Norwich City, St. James' Park 17:00
19 October 2015
Swansea City v Stoke City, Liberty Stadium 21:00
Team P W PTS
Previous Results

Date Home Team Result Away Team

Who was the best summer signing in the EPL?

/World Cup
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...


Take a photographical trip down memory lane and remind yourself of how the Springboks fared in their five previous Rugby World Cup campaigns. In addition, pick your all-time Springbok Rugby World Cup Dream Team and you could win R3 000!

Latest blogs

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.