August 19, 2018, 6:10

Stan Kroenke and Arsenal – a timeline to a takeover

Stan Kroenke and Arsenal – a timeline to a takeover

Stan Kroenke has moved a step closer to completing a full takeover of Arsenal after minority shareholder Alisher Usmanov accepted an offer worth in excess of £550million for his stake.

American businessman Kroenke currently owns 67 per cent of the Gunners through his company Kroenke Sports and Entertainment and has offered to purchase the 30.04 per cent held by Usmanov’s Red and White Securities firm, valuing the Premier League club at £1.8billion.

Here, Press Association Sport looks back at Kroenke’s past involvements at the Emirates Stadium:

April 5, 2007 – Kroenke buys an initial stake of 9.9 per cent in Arsenal through his Kroenke Sports & Entertainment company (KSE).

September 19, 2008 – Having slowly amassed more shares over the course of 2007/08, Kroenke joins the Arsenal board of directors with 29.9 per cent of the club’s shares.

April 11, 2011 – Increases his stake to 62.89 per cent by purchasing the shares owned by Danny Fiszman and Lady Nina Bracewell-Smith.

April 13, 2011 – Usmanov prevents Kroenke completing a total buy-out of Arsenal shares as he rejects the mandatory offer KSE are obliged to make after their recent stake increase.

May 17, 2014 – Arsenal beat Hull 3-2 after extra-time to win the FA Cup, their first major silverware since Kroenke became majority shareholder.

May 19, 2017 – Usmanov launches his own bid of around £1billion to purchase Kroenke’s controlling stake, but the Russian fails in his attempt.

August 4, 2017 – Kroenke orders the removal of all big-game hunting content from his streaming service My Outdoor TV after criticism following the UK launch of the platform.

April 20, 2018 – Kroenke issues a rare public statement to thank Arsene Wenger for his 22 years as manager after the club announce the Frenchman will leave at the end of the season. Kroenke said it was “one of the most difficult days we have ever had in all our years in sport”.

May 23, 2018 – Kroenke offers his backing to Wenger’s replacement following the announcement of Unai Emery as Arsenal’s new head coach. “We’re confident that he is the right person for the job and that he will work to deliver the triumphs our fans, staff and everyone who cares about Arsenal want,” Kroenke said of the Spaniard.

August 7, 2018 – KSE announce they are making a move to take complete control of Arsenal, as Usmanov confirms he has accepted in excess of £550million for his 30.04 per cent stake.

Sourse: breakingnews.ie

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