Football: Kroenke set to take over Arsenal
US sports tycoon Stan Kroenke has taken a controlling stake in Arsenal and has agreed terms to buy the remaining shares in the English Premier League club.
The deal values Arsenal at about £731million, according to a statement. If Kroenke gains complete control of the club, it will mean the top four English clubs are foreign-owned. The new owner expressed enthusiasm over the development. “We’re excited about the opportunity to increase our involvement with and commitment to Arsenal,” said Kroenke. “Arsenal is a fantastic club with a special history and tradition and a wonderful manager in Arsene Wenger. We intend to build on this rich heritage and take the club to new success.”
Published in The Express Tribune, April 12th, 2011.
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