Football: Kroenke set to take over Arsenal
The deal values Arsenal at about £731million, according to a statement.
LONDON:
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.
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.