Arsenal fans fear their club will be run from America if Alisher Usmanov sells his stake to US majority shareholder Stan Kroenke.
The Financial Times reported this morning that Usmanov is actively exploring the sale of his 30.4 per cent share in Arsenal after accepting that Kroenke will never sell full control to him.
Russian billionaire Usmanov failed with a £1bn takeover bid to buy out Kroenke in May last year and has become frustrated at not having a seat on the board or any say over the running of the club. He turned down Kroenke’s £525m offer for his shares in October.
Kroenke owns a 67 per cent stake in Arsenal and there are fears that if he acquires the club outright then it could lead to a reduction in transparency.
A spokesman for the Arsenal Supporters’ Trust told Standard Sport “The AST would be very concerned at any outcome that saw the club wholly owned by Stan Kroenke. “If he bought Alisher Usmanov’s shares, the likelihood is he would take the club private, forcing out the remaining custodian shareholders. This would reduce scrutiny in how Arsenal operate and allow its corporate structure to be moved to the United States. It would not be good for those who care about Arsenal being run the right way.
“Arsenal is too important to be owned by any one person and there should be a plurality of ownership, including supporters, involved in the club. There would be concern at the idea that Stan Kroenke has absolute control of Arsenal Football Club and the likelihood that its legal status would be transferred to the United States.” — The Evening Standard.
The post Gunners fans express fears appeared first on Zimbabwe Today.