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
Dein Leads New Arsenal Takeover Bid
Independent, August 31st, 2007 3:30PM

MOST READ

MOST COMMENTED

English giant Arsenal, the club that famously said it would not be bought, is starting to look like a prime target for a takeover, says the Independent's Sam Wallace. Earlier this week, the club's former vice chairman, David Dein, sold his 14.58 percent stake in the club to an investment group in return for being placed in charge of its efforts to takeover the club. Indeed, Red and White Holdings, as the group is called, has been formulated for the sole purpose of accruing more Arsenal shares. Dein is its chairman, while Alisher Usmanov, the 142nd richest man in the world, according to Forbes, and Farhad Moshiri, an Iranian fund manager, are its primary investors.

What does this say about American billionaire Stan Kroenke's involvement in the club? Kroenke owns a 12.19 percent stake in Arsenal, and many thought Dein would sell to the American. However, Wallace says it's not impossible that the two sides, which are working separately at the moment, could launch a joint bid to takeover the club. Currently, the Arsenal board controls the club with a combined 45.45 stake. Wallace says Danny Fiszman, with a 21.1 percent stake, is now the club's key shareholder, although he and the rest of the board made a pact not to sell their shares until April.

Dein sold his 14.58 percent stake to Red and White Holdings for $150 million, a significant haul considering he purchased a 16.6 percent stake for nearly $600K in 1983. Dein left Arsenal's board in April because other board members did not support the idea of foreign investment.

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
Atletico Madrid Signs Young French Star    
Spanish La Liga champion Atletico Madrid has acquired 23-year-old French World Cup winger Antoine Griezmann from ...
Cuauhtemoc Blanco Makes Comeback at 41    
Former Mexico striker Cuauhtemoc Blanco has returned to the top flight of Mexican soccer at the ...
Jack Wilshere Regrets Having a Smoke    
What happens in Vegas doesn't always stay in Vegas. Arsenal midfielder Jack Wilshere was caught on ...
Dick Advocaat Takes Serbia Helm    
Dutchman Dick Advocaat, whose resume includes stints as coach of the Netherlands, South Korea, PSV Eindhoven ...
Arsenal Buys Teen Defender for $27 million    
Arsenal has signed England U-19 defender Calum Chambers from Southampton for about $27 million. The 19-year-old ...
Schweinsteiger Says Sorry for Insulting Song    
World Cup winner and Bayern Munich midfielder Bastian Schweinsteiger has apologized after a video appeared of ...
Lionel Messi Not Clear of Tax Trouble    
Despite the prosecutor arguing in June that his father Jorge was responsible for the family's finances ...
Ranieri Named Greece Coach     
Claudio Ranieri on Friday signed a two-year deal to manage Greece. The 62-year-old Italian replaces Fernando ...
West Ham's Carroll to Miss Four Months    
West Ham striker Andy Carroll is set to miss up to four months after suffering ankle ...
Pinto Quits Costa Rica     
Jorge Luis Pinto, who guided Costa Rica to a surprise quarterfinal finish at the World Cup ...
>> Section 2 Around the Net Archives