Poised to strike: Stan Kroenke (left) is set
to launch a takeover bid
Stan Kroenke is poised to spend nearly £300million
to take control of Arsenal.
An announcement on the Stock Exchange is expected to
confirm that the American billionaire will buy the 16 per cent
stakes owned by Danny Fiszman and Lady Nina Bracewell-Smith, taking
his overall shareholding at the Emirates to 62 per
cent.
The move has been sparked by the serious illness of
Fiszman, who wants to sell his stake having tied up his affairs in
a beneficial trust, knowing his children do not wish to maintain
links with the club.
Kroenke has also had to act to head off a rival takeover
from Alisher Usmanov, the Russian oil tycoon who owns around 27 per
cent of the club’s shares and is in a financial position to make
the same 32 per cent purchase.
Once Kroenke increases
his stake to 62 per cent, he will have to make a mandatory offer
for the rest of the shares, and at this stage it is unclear whether
Usmanov would sell. If he retains his stake, he will still wield
influence on issues that demand a special resolution.
Last night speculation was rife
that a Kroenke takeover could lead to the return of former
vice-chairman David Dein. Arsene Wenger has missed Dein’s counsel
since he was forced off the board for introducing Kroenke to the
club, having brokered the deal for the American to buy the 9.9 per
cent stake that was owned by ITV. Yet Dein then sold his stake to
Usmanov.
The move could force Wenger to
cave in to demands for pre-season tours in the US, but there is
hope Kroenke would inject cash into the transfer kitty.
Some sources question the
likelihood of that, however, when he is spending so much on seizing
a controlling stake — probably between £11,500 and £12,000 for each
share from Fiszman and Bracewell-Smith, totalling around
£300million.
There is some irony in
the fact Bracewell-Smith is involved, given that Fiszman forced her
off the board, but she has been trying to sell her stake for a
while.
Having one man all but in
control should create more stability for Arsenal; especially as
Kroenke has strong sporting connections.The principal shareholder
in Denver-based Kroenke Sports Enterprises, his major US sports
interests include the NBA’s Denver Nuggets, the NFL’s St Louis Rams
and the Major League Soccer side Colorado Rapids.
A spokesman for Arsenal refused
to comment but there is concern from Arsenal Supporters’ Trust over
the club being taken into private ownership, which would
essentially be the case if Kroenke ends up with more than 75 per
cent. Small shareholders currently retain around 12 per
cent.
The AST’s Tim Payton said:
‘Arsenal is a stronger institution when supporters are directly
involved in its ownership structure. Stan Kroenke has always been a
supporter of the AST and supporter shareholders. We expect him to
involve us in talks about any plans he has.’
If Kroenke is successful, the
top four clubs in the Barclays Premier League will all be under
foreign ownership.
In the shadows: Alisher Usmanov has also been
buying up shares in Arsenal
Meanwhile, Ian Holloway
was left ‘heartbroken’ after Blackpool’s fightback against the
Gunners was halted by controversial decisions from referee Lee
Mason.
‘How we didn’t get at least one
penalty, I don’t know,’ he said. ‘I went in to see Mr Mason, and,
to be fair, it was very amicable. I think the man genuinely gave
what he thought he could see.
‘It was the challenge on (Gary)
Taylor-Fletcher that really left me aggrieved. It was a blatant
penalty, and what a difference that could have made to our momentum
for the rest of the season.
Arsenal’s Jens Lehmann was lucky
to avoid a red card after up-ending DJ Campbell just before
Taylor-Fletcher’s goal.
‘That split second was the most
important one of the game,’ said Wenger. ‘But Jens did really well.
His decision-making was spot on.’
