Arsenal majority shareholder Stan Kroenke has launched a move to take full ownership of the Premier League club with a bid that values the club at £1.8bn.

Kroenke already own 67% of Arsenal and has offered to purchase the remaining 23% from Alisher Usmanov's Red and White Securities firm.

Kroenke Sports and Entertainment would then take full control and ownership of the North London Club.

In a statement published on the London Stock Exchange, Kroenke said: "We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents."

The statement continued: "The successful implementation of the offer will result in the opening of a new chapter in the history of the club in bringing 100 per cent private ownership by KSE.

"KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions. KSE is a committed, long-term owner of the club."

How Much Will Kroenke Pay??

Kroenke's offer would make Arsenal's value rise to £1.8bn.

He has offered £300m for the 23% of shares of which he will pay £45m of his own money and will borrow the rest.

He has also said the borrowing will not be against the club.

"The offer is not being funded by way of anydebt finance (bank loans, payment inkind loans or other debt or quasi debt interest bearing obligations) for which the payment of interest on, repayment of,or security for any liability (contingent or otherwise) will depend on the business of Arsenal," said the statement.

Source:>>SPORTDAB
http://www.sportdab.com.ng/2018/08/omg-arsenal-majority-shareholder.html

cc: lalasticlala

He's worth it.

Hmm