Currency converter
All news
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Kroenke strikes deal to buy Usmanov’s stake in Arsenal FC

August 07, 2018, 13:23 UTC+3 LONDON

Following the deal, Arsenal net worth reached more than $2.3 bln

1 pages in this article
Stan Kroenke

Stan Kroenke

© AP Photo/David Zalubowski

LONDON, August 7. /TASS/. US sports mogul Stan Kroenke, who owns a controlling stake in the London-based Arsenal Football Club, has struck a deal to buy Russian metals magnate Alisher Usmanov’s 30% share, the Financial Times daily said.

The Independent wrote earlier that Kroenke, who purchased a 67% share in Arsenal in 2007, launched a "takeover bid to assume full control of Arsenal after securing the backing of minority shareholder Alisher Usmanov."

According to the Financial Times, the deal worth 550 mln pounds (over $711 mln) will give Kroenke "sole ownership" of the football club.

The Financial Times said in July that Usmanov was "actively exploring a sale of his stake in Arsenal, accepting that the London-based football club’s majority owner, the US sports mogul Stan Kroenke, will never sell control to him." The newspaper added that in October 2017, Usmanov had turned down a 525 mln pound ($679 mln) offer from Kroenke to acquire his shareholding.

Following the deal, Arsenal net worth reached 1.8 bln pounds (more than $2.3 bln).

Show more
In other media
Partner News