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Stan Kroenke: Clubs
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Kroenke increased his stake to 12%, mainly as a result of buying a shareholding on English media network ITV which represents 9.9% stake at the club. It is widely speculated that Kroenke is stepping up his interest to buy off Dein's stake (his 14% share is estimated at approximately 60 million pounds), which would mean that his total stake would be just under 27%. If American manages to raise his stake at 29.9%, he will be obliged by takeover rules to launch a formal bid for the London based club. Will Randy Lerner, David Gillett, Tom Hicks and Malcolm Glazer greet some new company?
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Kroenke said people were jumping to conclusions by suggesting he wanted to play a more influential role at the club. But, tellingly, he did not rule out owning a greater share in the future. "It's a partnership at this point," said Kroenke, one of the speakers at a global sports industry conference in London. "Everybody has a tendency to want to speed things up but these things take a lot of time and effort, and often years to develop."
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Kroenke, who currently owns just over 12 percent of the club's parent company, is thought to be keen to increase his financial involvement. Edelman warned fans that any overseas investor will attempt to take more money out of the club than they put in.
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The pressure on Arsenal continues as American billionaire Stan Kroenke increases his holding in the club by buying further shares. If Arsenal Chairman thought that his robust attack and comments against a possible foreign takeover would deter the American tycoon, he was very much mistaken.
It is understood that Kroenke is planning to drive a wedge between the director-shareholders of Arsenal who together speak for 45 per cent of Arsenal's equity, but some of whom appear reluctant to sell. Nevertheless, Kroenke believes that Arsenal's biggest single stockholder, director Danny Fiszman with more than 24 per cent, could be persuaded to cut his stake. Fiszman recently sold the American a small parcel of shares. On Friday, Kroenke upped his stake in the club to 12 per cent. Arsenal is valued on the stockmarket at over £400m, but it ... has £250m of debt.
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It was feared by many fans that Kroenke had made the club a target for a £350million takeover after he acquired a 12.9 per cent stake in the club earlier this year. The suggestion was that he would link up with former vice-chairman David Dein.
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