Sport

Stan Kroenke statement released after Usmanov bid

Stan Kroenke statement released after Usmanov bid

Kroenke, who owns 67.05% of Arsenal, declined the offer from Usmanov and that has now been made official in a statement released to the stock exchange by Kroenke Sports & Entertainment (KSE).

Arsenal fans are not happy with the news that majority shareholder Stan Kroenke has no plans to sell his shares.

In an interview with Bloomberg last month, Usmanov said the blame for the club's performance should not rest exclusively with Wenger, but also with Kroenke and the board, from which Mr. Usmanov is excluded.

It emerged on Friday that American businessman Kroenke had rejected a £1billion takeover bid from Alisher Usmanov, the Gunners' second leading shareholder.

The 67-year-old Frenchman has faced repeated calls to quit and bring to an end an Arsenal reign that started in September 1996 when his current contract expires after the end of this season.

Usmanov's approach, which he made last month, valued the club at $2 bln, the FT said.

It added: "KSE is a committed, long term investor in Arsenal and will remain so".

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Speaking after the Everton win, Wenger told TalkSport: "No matter what happens, I'm convinced this group will win the Premier League [either] next year or [in the future]".

Kroenke's statement comes at a time of great uncertainty at Arsenal, with manager Arsene Wenger's future still undecided, while there are fears that star duo Mesut Ozil and Alexis Sanchez could push for a move away this summer.

"I respect Stan Kroenke a lot", Wenger said.

This is the first time the club have missed out on the Champions League under Wenger, but they haven't won the league since 2004. Victory would give Wenger a record seventh success in the competition.

Arsenal can still salvage something from a disappointing season when they take on Chelsea at Wembley on Saturday in the FA Cup final.

However, next season's Europa League campaign is likely to have an impact on Arsene Wenger's playing squad.


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