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
Inzaghi: Milan Has Nothing to Lose Against Juve     
AC Milan on Saturday hosts Juventus in an early-season top-of-the-standings clash of Italian heavyweights. While Milan ...
London Wins Semis and Final of Euro 2020    
UEFA on Friday awarded Wembley Stadium in London as the venue for the semifinals and final ...
Prosecutor Calls for End to FIFA's Secrecy     
FIFA prosecutor Michael Garcia on Friday said he wants more details published about corruption cases in ...
Pellegrini Defends Toure, Lampard     
Manchester City coach Manuel Pellegrini defended Yaya Toure's performance against Bayern Munich during City's UEFA Champions ...
Mourinho Was 'Not Expecting' Lampard to Join Man City     
Jose Mourinho says he still has respect for Chelsea legend Frank Lampard even though he could ...
Mourinho: Relationship with Ronaldo 'Does Not Exist'    
Jose Mourinho says he no longer has any relationship with Cristiano Ronaldo now that he has ...
Arrests Mar Roma's UCL Win     
Police arrested three fans prior to AS Roma's UEFA Champions League opener against Russian side CSKA ...
Roma Players Warn City, Bayern Following Rout     
AS Roma's players said they are full of confidence following their 5-1 hammering of CSKA Moscow ...
Di Maria: "I Needed to Change My Life"    
In an interview with Perform, Manchester United forward Angel Di Maria says that he left Real ...
Drogba: "I'm Like a Diesel, I Need Time"    
Didier Drogba admits that he needs time to regain his fitness and confidence after squandering chances ...
>> Section 2 Around the Net Archives