Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Kroenke Still Intends to Take over Arsenal
Independent, July 23rd, 2007 2:30PM

MOST READ

MOST COMMENTED

Colorado Rapids owner Stan Kroenke looks to be on a mission to add more Arsenal shares to his 12.2 percent total, according to the Independent. After a meeting with Danny Fiszman, the English Premier League club's largest shareholder, the American billionaire is attempting to join forces to mount a full takeover. The report says the cooperation of Fiszman, who owns 24.11 percent, is the key to Kroenke taking over the club without the bid becoming hostile. Fiszman, however, has already made an agreement with the rest of Arsenal's large shareholders (excluding former vice-chairman David Dein) to resist giving in to a hostile takeover from a third party.

Complicating matters is Kroenke's relationship with Dein, who was originally ousted because he favored a potential takeover by Kroenke. As part of their deal, the former board member would sell his 14.6 percent share to the American in exchange for returning to the club's management. Fiszman and Dein do not get along, however, but should Kroenke prevail, he would obtain 51 percent of Arsenal's shares. With the purchase of another 12 percent belonging to hedge funds and other companies, Kroenke would be in a position to take over the club.

None of this will happen anytime soon, however, as the Americans don't wish for a hostile takeover and Fiszman has indicated no willingness to sell-yet. Meanwhile, Formula One billionaire Bernie Ecclestone last week said he would not rule out the possibility of bidding against Kroenke to take over the Gunners. Ecclestone has a closer relationship to Dein -- Ecclestone's daughter dates Dein's son -- but claims he has made no contact with anybody at Arsenal about the matter.

Read the original story...



No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
World Cup Boosts German Beer Sales    
The World Cup is credited for boosting German beer sales by 4.4 percent in the year's ...
Glazers Selling selling 8 million Man United    
The Glazer family will make around $150 million by selling 8 million shares of its stake ...
Former Palestine Midfielder Killed in Bombing    
Former Palestinian national team player Ahed Zaqout has been killed by an Israeli bomb that hit ...
Neymar Aims to Be Fit for Barcelona Opener    
Brazilian star, Neymar, who fractured a bone in his back following a challenge from Colombia's Juan ...
Mourinho: Lukaku Lacked Motivation    
Chelsea coach Jose Mourinho, after his club sold 21-year-old Belgian striker Romelu Lukaku to Everton for ...
Former Zambia Boss Takes Ivory Coast's Helm    
Frenchman Herve Renard has been appointed coach of Ivory Coast, replacing Sabri Lamouchi, who left after ...
Steven Gerrard: 'Every Person Slips'    
Steven Gerrard says the slip that arguably ended Liverpool's title hopes and England being knocked out ...
La Liga Champ Eying Chicharito    
Mexican striker Javier Hernandez, who started just six Premier League games for Manchester United last season ...
No Charges for Moyes Over Bar Incident    
Former Manchester United coach David Moyes is in the clear after he was investigated over an ...
West Ham Acquires Ecuador World Cup Striker    
West Ham has finalized a $20 million transfer of Ecuador striker Enner Valencia from Mexican club ...
>> Section 2 Around the Net Archives