Sports
NOT FOR SALE: Arsenal shareholder Kroenke rules out speculations
Following reports that minority owner Alisher Usmanov has made a bid of £1 billion to buy out Premier League club, Arsenal, the majority shareholder Stan Kroenke has said his shares “are not, and have never been, for sale.”
Kroenke’s company, Kroenke Sports and Entertainment (KSE), released a statement on Monday, expressing they are “a committed, long-term investor in Arsenal and will remain so.”
“KSE UK Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms that its shares are not, and never have been, for sale,” the brief statement read.
The American entrepreneur has a 67% stake in Arsenal, whereas Usmanov owns 30% but is not part of the board or decision-making at the club.
Read Also: Co-owner Usmanov offers £1bn to take over Arsenal
The Uzbek-born Russian billionaire Usmanov had said in April that Kroenke must “bear huge responsibility” for the club’s failures on the pitch.
“All the responsibility for the fate of the club rests with the main shareholder,” Usmanov told Bloomberg.
But the company’s statement came only a day after Arsenal failed to clinch a Champions League spot despite defeating Everton 3-1 on the final day of the Premier League season at the Emirates on Sunday.
However, in their chase for the only possible title this season, the Gunners, who finished fifth in the league for the first time in 20 years, will face Chelsea in the FA Cup final at Wembley on Saturday.
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