Kroenke eyes full takeover bid
Published 11/04/2011 | 05:00
Stan Kroenke has taken control of Arsenal and will now make a full takeover offer after reaching agreements to take his personal shareholding in the club to 62pc.
Kroenke, an American billionaire businessman, has agreed to buy the shares of two other major shareholders, Danny Fiszman and Lady Bracewell-Smith, at a combined cost of around £230m.
Fiszman, who is seriously ill with cancer, has a stake of 16.1pc and Lady Bracwell-Smith, who was ousted from the board of directors in 2008, owns 15.9pc.
It is four years since Kroenke, an ardent admirer of Arsene Wenger, first became an Arsenal shareholder and he has since steadily increased both his shareholding and influence.
His company, Kroenke Sports Enterprises, currently owns basketball, ice-hockey, lacrosse and football teams in Denver, while Kroenke also completed the purchase last year of the St Louis Rams American Football team.
His Colorado Rapids football team are the reigning MLS champions and his ice-hockey and American football teams have won the big prizes in their respective sports.