Lunes, 23 Octubre, 2017

Usmanov bid to buy Arsenal rejected by Kroenke

Galena Nuncio | 19 May, 2017, 23:57

Alisher Usmanov attempted to purchase Stan Kroenke's stake in Arsenal Football Club last month, by means of a letter to the majority owner, for a reported £1 billion, which would have taken the club's valuation to £2 billion and putting the operations of the club to the Uzbekistani oil, gas, and general business magnate, the Financial Times has reported.

Usmanov remains interested in buying out Kroenke's 67-percent majority stake in a deal valuing the club at $2 billion, the person told The Associated Press.

The takeover bid adds to the sense of uncertainty surrounding the club, with Arsene Wenger's future beyond this season still up in the air.

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However, media sources are reporting that the Kroenke family wants to maintain control of the club despite having several other franchises to their name, including the Los Angeles Rams (NFL), Denver Nuggets (NBA), Colorado Avalanche (NHL), Colorado Rapids of Major League Soccer, and the Colorado Mammoth of the National Lacrosse League. Wenger said his future won't be settled until a board meeting is held after Arsenal plays Chelsea in the FA Cup final on May 27.

While Arsenal's full-year revenue of about 350 million pounds is the third-highest in the Premier League, it's about 30 percent less than rival Manchester United, which generates more commercial income from jersey-sponsorship rights and branding.

He has a fractious relationship with Kroenke and last month he claimed that the club's issues should not be placed exclusively at the door of manager Arsene Wenger.

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The Frenchman, who is out of contract at the end of the campaign, is preparing for the final Premier League game of the season against Everton with a faint hope of finishing in the top-four for the 21st consecutive season.

"All the responsibility for the fate of the club rests with the main shareholder", Usmanov told Bloomberg.

Usmanov's wealth is a source of frustration for many Arsenal fans, as the club has refused to tap into the tycoon's vast resources to boost their purchasing power on the transfer market.

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