As media reports continue to trail Arsenal especially after it missed qualifying for the UEFA Champions League for next season, the club’s majority owner, Stan Kroenke, has opened up on the sale of the football club.
Stan Kroenke, the majority shareholder of Arsenal football club, has affirmed his commitment to the club and said his shares are not for sale after minority shareholder Alisher Usmanov made a $1.3bn bid to buy out the American tycoon.
In a statement, KSE UK, the holding company for Mr Kroenke’s shares in Arsenal, said:
“KSE UK 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. KSE is a committed, long term investor in Arsenal and will remain so.”
Uzbek-Russian metals magnate, Mr Usmanov – who currently owns 30 per cent of Arsenal – has been engaged in a long-running feud with Mr Kroenke, criticising his lack of investment in the club.
This weekend, Arsenal missed out on qualifying the Champions league for the first time in 20 years, a failure that is likely to cost it about £50m in lost revenues.
The club’s disappointing performance has led to accusations from some quarters that Mr Kroenke has been an absentee owner.