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The majority shareholder of Arsenal, Stan Kroenke, made an offer of 600 million pounds to buy the entire club in an agreement that would value the Gunners at 1.8 billion pounds sterling.
Arsenal through his company KSE, which says that Alisher Usmanov agreed to sell his 30% in the club.
A statement from KSE that the privatization of the club will contribute to the strategy
The announcement of the redemption was made on the London Stock Exchange on Tuesday.
Despite his shareholding, Usmanov does not belong to the board of directors nor the decisions of Arsenal.
The metal magnate made a £ 1 billion bid to buy the Emirates group in May 2017, but Kroenke rejected it.
The statement on the stock market added: has regularly won the Premier League and the Champions League, as well as the main trophies in the senior women's game and at the youth level.
KSE said that under his management since 2011, the club has invested in major transfers
Arsenal has a new manager in charge this season after Unai Emery has taken over Arsene Wenger, who was boss of the Gunners for 22 years.
In the last season of Wenger, Arsenal finished sixth in the Premier League after missing the Champions League, but qualified for the group stages of the Europa League
Manchester City champion
"A terrible day for Arsenal" – reaction of the fans
Although Kroenke claims that the property exclusive will benefit the club, the Arsenal Supporters' Trust (AST) The news "a terrible day" for gunners.
"Stan Kroenke, who deprived the club, will see the end of the supporters of Arsenal and their role in the defense of values, "says a communiq AST
AST added that by becoming a 100% owner, Kroenke would be able to take "prejudicial measures" such as paying "management fees and dividends without a check or pay".
also extremely concerned to note that this purchase is being financed by a loan.
"The AST is entirely opposed to this takeover that marks a very sad day for the Arsenal football club."
Rob Wilson, expert in football finance at the University of Sheffield Hallam
There are two sides and from the point of view of the fans you like to have a little more transparency over a person involved in a broader discussion about what you should do, who you should buy from and what to spend for certain people.
When you have this unique property, especially in the United States, it lacks a bit of transparency.
The football club will pay big dividends as an entity that maximizes profits, but for Arsenal, there is not much different for 10 or 15 years with Usmanov and when Farhad Moshiri (former shareholder and co-owner of Everton) was involved.
The only thing that worries me is that it will be a leveraged buyout, so he will have to borrow to be able to do that . Depending on which side of the fence you will determine whether you consider it a positive or negative thing.
From a purely commercial point of view, this is not a bad model. It's like if you or I were buying a house, taking out a mortgage, if you were keeping those payments against those loans or borrowing, then that's not a problem.
Back, I do not think that this will limit the activity that Arsenal will be able to undertake in the transfer market, because the reality is that for this activity to be profitable, it is necessary to be among the first four and enter the European competition.
What are the details of the offer?
Kroenke will raise the capital to take control of the club with 45 million pounds of his own money and borrow 557 million pounds. the club.
"The offer is not financed by debt financing (bank loans, loans in kind, other debts or quasi-debt interest repayment obligations) for which the payment of interest, the repayment of, or the guarantee of any liability (conditional or otherwise) will depend on the affairs of Arsenal, "the statement said.
In the offer document, each of the 62,217 Arsenal shares are valued at £ 29,419.64.
KSE currently has 41,743 of those, with Usmanov holding a stake of 18,695, which would cost 550 million pounds sterling under the offer.
The shares of Aquiring Usmanov would move KSE beyond the 90% threshold, allowing them to buy which are valued at £ 52.3m.
Aside from Arsenal, Kroenke's family portfolio also includes the NFL Los Angeles Rams, the NBA Denver Nuggets, the Colorado Avalanche NHL, the Colorado Colorado Rapids and the Colorado Mammoth of the National Lacrosse League.
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