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 Could Be Poised For Arsenal Takeover
Independent, June 20th, 2008 1:45PM

MOST READ

MOST COMMENTED

Stan Kroenke, the billionaire owner of both the Colorado Rapids and the Denver Nuggets, is "in advanced talks" with English Premier League giant Arsenal that would put him in a strong position for a future takeover of the team, writes Nick Harris. Kroenke, who currently owns 12 per cent of the London club's shares, "will take a place on the club's board within weeks. Crucially, he will also be given first refusal on a majority of the club's shares for the next four years."
 
The American will not own a controlling stake in the team just yet because the group of core directors, headed by Danny Fiszman (24.1 per cent owner) and Lady Nina Bracewell-Smith (15.9 per cent), are still not ready to sell out their shares. Harris says that Arsenal first tried to persuade Kroenke to accept a seat on the board last fall, "to send a strong message to the Uzbek predator, Alisher Usmanov, that, given a choice of billionaire investors, they preferred Kroenke to Usmanov."
 
In other words, Kroenke would be the lesser of two evils, given Usmanov's past -- a six-year jail sentence in the Soviet Union he claims was for political reasons -- and media speculation about the business practices he used to acquire his vast wealth. Even then, Kroenke won't have forgotten that Arsenal's chairman, Peter Hill-Wood, looked down his nose at him last year and said: "Call me old-fashioned, but we don't need his money and we don't want his sort... [Americans] know absolutely sweet FA about our football." Relations between the board and Kroenke have, however, "since warmed."

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
The case for more female coaches in youth soccer    
Nicole Farley, who coaches at Southern California's Laguna United SC and Dana High School, says "I ...
Nasri to Miss a Month Following Surgery     
Manchester City midfielder Samir Nasri will miss a month after having groin surgery over the weekend. ...
Herrera Out as Man United Injury Crisis Worsens    
Manchester United midfielder Ander Herrera will be out for "weeks" with a fractured rib in yet ...
Giroud Signs Gunners Extension    
Goal.com reports that injured Arsenal striker Olivier Giroud has signed a two-year contract extension with the ...
Defender Helped Finance Barca Move    
Barcelona defender Jeremy Mathieu on Monday confirmed that he paid three million euros out of his ...
Man United Mulls Midweek Friendlies Abroad    
The BBC reports that Manchester United is thinking about playing potentially lucrative midweek friendlies abroad since ...
Cole 'Never Expected' to Play Against Lampard in UCL    
AS Roma defender Ashley Cole said he was surprised to come up against former Chelsea teammate ...
Luis Suarez Ban Upheld in FIFA 15     
Barcelona striker Luis Suarez is not currently playable in the "career mode" of FIFA 15, the ...
Simeone: Juve a 'Final'    
It may only be Matchday 2 of the UEFA Champions League, but Diego Simeone is already ...
Report: Pardew's Job Safe-for Now     
Newcastle United is currently 19th in the Premier League table and winless in six games so ...
>> Section 2 Around the Net Archives