American Billionaire Joins Arsenal Board
Stan Kroenke, the billionaire owner of the Denver Nuggets, Colorado Avalanche, and Colorado Rapids, has joined the board at Arsenal. Just over a year ago, the boys over in London were up in arms when Kroenke started buying shares of the club. They more or less told him where he could shove his American money. Now they are falling all over themselves in an attempt to get that same American to protect them from a different potential takeover.
Russian billionaire, Alisher Usmanov, is gunning to take over Arsenal. In his corner is former Arsenal Chairman David Dein, who is heading up Usmanov’s company Red and White Holdings. Currently Usmanov owns 25% of Arsenal’s shares, but appears to be making a move for a hostile takeover.
Enter Kroenke. The American sports tycoon already owns a 12.5 % stake in the company, and current Arsenal Chairman Peter Hill-Wood - who recently just finished the largest plate of crow ever served up - has welcomed Kroenke’s money with open arms.
Kroenke is allowed to purchase up to a 29.9% stake in the club only if it is deemed that it’s necessary to block a takeover bid from Usmanov.
Arsenal is currently the only member of the big four that is traded publicly. Manchester United is owned by the Glazier family in America, Liverpool is owned by George Gillette and Tom Hicks, two American billionaires, and Chelsea is owned by Russian billionaire Roman Abramovich.
Source: www.90soccer.com
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