What does Stan Kroenke's takeover of Arsenal mean for the Gooners future?

What does Stan Kroenke's takeover of Arsenal mean for the Gooners future?

He signed a motion to recognize Arsenal as the world's best football team in 2004, after Arsene Wenger's side had completed a Premier League season unbeaten.

Regular Forbes headliner, and the owner of Kroenke Sports & Entertainment Group, Stan Kroenke purchased the 30 per cent shares of Russian billionaire Alisher Usmanov in the Premier League team.

In October, Kroenke Sports Enterprise UK (KSE (BSE: 519421.BO - news) ) offered around £525m to buy the 18,695 shares held by Mr Usmanov's Red and White Securities Limited.

Change seems to be the order of the day at north London club Arsenal.

Usmanov confirmed in a statement released to Press Association Sport on Tuesday that he had accepted the offer for his shares but did not give a reason as to why he has now opted to cash in.

Stan Kroenke's move to take complete control of Arsenal "marks a awful day" for the Gunners, according to the Arsenal Supporters' Trust (AST).

"Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values", said an AST statement.

Wright said he is anxious that American billionaire Kroenke cares more about money than winning trophies, and that Arsenal will no longer be able to compete for top trophies with him running the club.

The motion, proposed by Brian Sedgemore MP, read: 'This House believes that Arsenal is the best club football team in the world at the moment and admires them for the fluency and poetry that they have brought to the attractive game'.

What does Stan Kroenke's takeover of Arsenal mean for the Gooners future?
What does Stan Kroenke's takeover of Arsenal mean for the Gooners future?

"Many of these fans are AST members and hold their share not for value but as custodians who care about the future of the club".

"KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions, " Kroenke's company said. Kroenke's actions will neuter their voice and involvement.

Kroenke will be raising the capital to take control of the club with £45m of his own money and borrowing £557m, which he says will not be against the club.

Usmanov and Kroenke have always insisted that one would not sell their stake in the club to the other.

"The AST is wholly against this takeover".

He also discussed the criticism aimed at Arsenal Fan TV by Arsenal right back Hector Bellerin last season in regards to the Catalan footballer's view that their presence has been far from helpful for the club.

They have not won the title since 2004 and previous year finished sixth, 37 points behind champions Manchester City.

The America tycoon's move to obtain complete control of the club signals the end of Arsenal's long tradition of financial accountability and transparency by having supporter shareholders.

New manager Unai Emery, who joined from Paris St Germain, will be given a baptism of fire this weekend when Arsenal kick off their new season against Manchester City.

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