Premier League: Stan Kroenke makes Arsenal takeover bid

Arsenal majority shareholder Stan Kroenke wants to take over the whole club, the American businessman has made an offer worth 600 million pounds for 30% of the shares. Kroenke currently owns 67% of the shares at Arsenal Football Club and his company called KSE has announced that Alisher Usmanov has agreed to sell his 30%. The buy-out announcement was made to the London Stock exchange on Tuesday and KSE added that the move would help make Arsenal a more successful football club.

An offer for Stan Kroenke's shares by Alisher Usmanov was made in May 2017; the bid was worth 1 billion pounds but it was rejected by the American businessman. Despite having held 30% of the shares, Usmanov was not a part of the board at Arsenal. KSE's statement to the London Stock Exchange also read: "KSE's ambitions for the club are to see it competing consistently to win the Premier League and the Champions League, as well as the major trophies in the women's senior game and at youth level. Under our stewardship since 2011 the club has invested in major transfers, player contracts, analytics, senior non-playing football management employees and we expect the club to build on those investments".

The Arsenal fans are not too happy about Kroenke's plans, the Arsenal Supporters' Trust (AST) said this was "a dreadful day" for the club. "Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values," said an statement released by the Arsenal Supporters' Trust. "The AST is wholly against this takeover which marks a very sad day for Arsenal football club." Meanwhile, Arsenal are preparing to start their first season after the Arsene Wenger era. New manager Bet365 to win the Premier League title next season.

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