American businessman Stan Kronke, who owns 67% of English football club Arsenal, will buy 30% of the club from Russian businessman Alisher Usmanov. This is stated in the message of the company KSE, through which Kronke manages the club.
"I decided to sell my shares to the Arsenal football club, which may be the best football club in the world. I wish great successes to a wonderful football club and everyone whose life and career are connected with it, "Usmanov said (his words were conveyed to the" Vedomosti "by a businessman's representative).
The report clarifies that the American businessman intends to receive the remaining shares of independent shareholders. Earlier, he received an irrevocable irrevocable consent to the deal from Usmanov, notes Reuters. According to the Financial Times, Kronke will pay Usmanov for a stake in the club 550 million pounds ($ 712 million) in cash. Forbes estimates the state of the Russian businessman at $ 12.5 billion, the American - at $ 8.3 billion.
As a result of the transaction, the club will be valued at 1.8 billion pounds ($ 2.3 billion). This is slightly higher than in October 2017, when Usmanov refused to sell his share to Kronke for 525 million pounds ($ 680 million). Then the Russian businessman said that it is important to protect the interests of Arsenal and his fans. However, despite the 30% stake in Usmanov, there was never a place on the board of directors of the club, and this complicated the sale of its stake to any of the other interested parties, the FT notes.
The two largest shareholders of the English Premier League club fought for control of the club for many years, and both tried to buy back shares from each other. In July, FT, citing sources, said that Usmanov began to actively explore the possibility of selling his package.
The interlocutors of the publication pointed out that the businessman was convinced that it was impossible to buy a controlling stake in the club from Kronke and was trying to get out of the asset. The businessman himself refused to comment on the newspaper at that time. Before that, the Russian billionaire had repeatedly offered Kronke a deal, but he refused to negotiate. Earlier he also said that he would like to sell the package to any buyer who shares his views on the development of the club, but not Kronke.
Usmanov received Arsenal shares back in 2007. Over time, the Russian businessman became the holder of the second largest package. In April 2017, he turned to Kronka with a proposal to acquire his 67% stake in Arsenal for $ 1.3 billion, but then the American businessman refused to accept this offer.
Kronke also owns the American football team LA Rams and the NBA club Denver Nuggets. But the American is not popular with fans of Arsenal, some of them believe his management is the reason for the club's unsuccessful performances.
The change in the ownership structure of the club coincided with the beginning of a new chapter for him and on the football field. In this offseason, the head coach of Arsenal became Spaniard Unai Emery. He replaced the Frenchman Arsene Wenger, who led the team for 22 years.