Arsenal is now owned by American businessman Stan Kroenke.
(Baonghean.vn) - According to BBC Sport, the share purchase transaction between the two billionaires Kroenke (American) and Usmanov (Russian) has been completed and approved by the London Stock Exchange today. Thus, Kroenke will hold 97% of Arsenal's shares – enough to make him the true owner of the club before the Premier League season begins.
The fact that the two billionaires Kroenke (American) and Usmanov (Russian), who respectively hold 67% and 30% of the shares, disagree on a football business strategy has hindered Arsenal's strong development. Arsenal has been largely frugal in the transfer market, only having enough resources to be among the "big six" but unable to win the Premier League or the Champions League.
Decentralization of power
In recent years, Kroenke has been Arsenal's largest shareholder. He holds 67% of the club's shares through his company KSE and has decision-making power at Emirates. Owner Usmanov is the second largest shareholder with 30%, while the remaining shareholders each hold only 3%.
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| Usmanov (left) has sold all of his 30% stake to billionaire Kroenke. Photo: Internet |
Of course, that's why Russian owner Usmanov has no power at the London club. Last May, the Russian billionaire made a £1 billion offer to buy Kroenke's shares, but it was rejected.
The inability of the two billionaires to cooperate led to a deadlock at Arsenal, and ultimately, manager Wenger parted ways with the club after 22 years.
Before leaving the club, he shared: “Leaving Arsenal feels strange to me because I’ve spent 22 years and played 1200 games with the club. It’s been a part of my life here. Arsenal made my life special, but it needs to change to move forward.”
Changes at the top
Unai Emery, the manager who recently lost his job at PSG, has officially replaced Arsene Wenger as Arsenal's manager. The 46-year-old Spaniard also expressed his pride in becoming the new "captain" of the Emirates Stadium team.
The young manager's task for next season is to help Arsenal regain their position in the Premier League, secure a place in the Champions League, and win the Europa League at the end of the season. Previously, Emery won the Europa League three years in a row with Sevilla (2014-2016) before moving to manage PSG.
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| Manager Unai Emery has been promised funds for transfers during the winter window. (Image: Internet) |
“I met Stan and Josh Kroenke and it’s clear they have great ambitions for the club and are committed to bringing success to the team in the future. I’m delighted about what we can do together and I look forward to giving all Arsenal fans some special moments and memories,” - Unai Emery shared.
In order for Arsenal to develop, Usmanov eventually agreed to sell his shares to a rival. According to Kroenke's latest announcement, he has bought back 30% of Usmanov's shares for £600 million, valuing Arsenal at £1.8 billion.
Immediately after the announcement, Kroenke's KSE company declared themselves the new owners of Arsenal and praised Usmanov's contributions over the years.
In addition, KSE emphasized its ambition to bring Arsenal back to the top of English football and make them capable of competing for both the Premier League and the Champions League titles.
Manager Unai Emery has been assured of funds for the winter transfer window, following a restructuring of the club's development strategy.
