Arsenal’s majority shareholder Stan Kroenke, who owns 67 per cent, has made a offer to take full ownership of the club.
He offered £550m to buy Alisher Usmanov’s 30% stake, valuing Arsenal around £1.8bn. The purchase would give Stan Kroenke 97 per cent ownership.
Kroenke’s company says it has received an “irrevocable undertaking” from Alisher Usmanov company Red and White Securities to accept the offer as soon as possible, with a deadline of 3pm on Tuesday set.
The Supporters’ Trust statement read: “This news marks a dreadful day for Arsenal Football Club.
“Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values.
“The AST is also extremely concerned to note that this purchase is being funded by a loan.
“The most dreadful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans. Many of these fans are AST members and hold their shares not for value but as custodians who care for the future of the club.
“Kroenke’s actions will neuter their voice and involvement. It is in effect legalised theft to remove shareholder scrutiny on how Arsenal is managed.
“The AST is wholly against this takeover. Arsenal remains too important to be owned by any one person.”
