American Sports Tycoon Bids for Full Ownership of Arsenal

Kroenke makes £1.8bn offer to buy Arsenal

Africa's richest man, Aliko Dangote, has failed in his bid to purchase English Premier League football club, Arsenal.

"We can not have a football club used as collateral against an owner's other business interests and we urge the Premier League to thoroughly examine this deal".

In October a year ago KSE offered around £525million to buy the 18,695 shares held by Usmanov, the Russian businessman who himself attempted to buy-out Kroenke in May 2017.

There was a furious backlash from Arsenal supporters after the American billionaire agreed to pay £550million to buy second largest shareholder Alisher Usmanov's 30 per cent stake in the Premier League club.

Kroenke, who also owns the U.S. Denver Nuggets basketball team and the Los Angeles Rams American Football team, said in a statement to the London stock exchange that he wanted to take Arsenal private to be better able to pursue its strategy.

Usmanov confirmed in a statement released to Britain's Press Association that he had accepted the offer but did not give a reason as to why he has now opted to cash in.

The main Arsenal fan group said Kroenke mounting full control "marks a awful day" for the club, which is preparing for its first season with Unai Emery as coach after Arsene Wenger's 22-year reign ended.

The deal ends a standoff between the two tycoons, who had both battled for control, but it has angered the small group of well-connected independent shareholders who see themselves as guardians of the 132-year-old club.

This would see KSE take those final shares to complete their 100 per-cent takeover of the club.

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

"The successful implementation of the offer will result in the opening of a new chapter in the history of the club in bringing 100 per cent private ownership by KSE".

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

It's fair to say, Arsenal Fan TV isn't everyone's cup of tea but judging by the millions of views it receives across social media, the channel is compulsive viewing for many. Kroenke's actions will neuter their voice and involvement.

"This news marks a terrible day for Arsenal Football Club", it read.

Arsenal kick off their Premier League campaign against Manchester City this Sunday.

"The financial viability of the deal must also be carefully examined, especially if the club will be purchased via a loan".

"The AST is wholly against this takeover".

With long-serving manager Arsene Wenger departing in the summer and being replaced by Spaniard Unai Emery, and some exciting names being linked with north London, there seems to be some optimism that Arsenal can get right back in amongst it after struggling for the last few years.

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