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Kroenke buys more Arsenal shares

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Kroenke buys more Arsenal shares

Post by Quiver on Sat Jul 11, 2009 10:19 am

Arsenal director Stan Kroenke, the largest shareholder at the north London club, has again increased his stake.

Mr Kroenke has bought a further 160 shares at £8,500 per share, taking his holding in Arsenal to 28.58%.

It takes Mr Kroenke closer to the 30% threshold that would force him to make an offer for the remaining shares.

In May, the American tycoon had increased his stake to 28.3%. giving him a bigger holding than Uzbekistani metals magnate Alisher Usmanov.

Mr Kroenke also owns the NBA's Denver Nuggets, the NHL's Colorado Avalanche, and the Colorado Rapids of Major League Soccer.

Share plan rejected

Mr Usmanov, a billionaire, owns more than 25% of the club through investment vehicle Red and White Holdings.

The Arsenal board recently rejected the Uzbek-born Russian billionaire's plan to provide fresh funds for transfers, as well as cutting the club's debt by issuing new shares.

Chief executive Ivan Gazidis turned down the request in favour of the current arrangement which would see the Emirates Stadium club remain self-financing.

Following the rejection, Mr Usmanov cast doubt on the club's ability to provide enough money for the team to challenge for honours.

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Kroenke increases Arsenal holding

Post by Quiver on Tue Oct 27, 2009 11:48 am

Arsenal director Stan Kroenke has moved a step closer to the threshold where he would have to make an offer for the entire stockholding of the club.

The US billionaire has bought a further 10 shares at £8,500 each, with his shareholding standing at 28.9%.

Mr Kroenke is the club's largest shareholder, ahead of Uzbeki tycoon Alisher Usmanov, who holds a 24% stake.

Mr Kroenke is nearing the 29.99% threshold that would force him to make an offer for the remaining shares.

Shares 'tightly held'

Mr Kroenke, who owns the NBA's Denver Nuggets, has been gradually increasing his stake in Arsenal this year through a number of different share purchases.

"It looks like he is just picking up shares as they become available," says Harry Philp, managing director at sports financers and advisers Hermes Sports Partners.

"Because the shares are so tightly held by a group of four major shareholders they are not widely available for purchase."

As well as Mr Kroenke, the other major shareholders are Mr Usmanov, Danny Fiszman, and Lady Bracewell-Smith.

Mr Philp said at this stage it was not possible to tell if Mr Kroenke intended to move towards a takeover or was looking to buy shares to obtain a longer-term investment value from them.

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