Usmanov bid to buy Arsenal rejected by Kroenke

Usmanov bid to buy Arsenal rejected by Kroenke

Kroenke is now the majority shareholder with 67 per cent, but Russian businessman Usmanov has made a move to buy out the 69-year-old for around £1bn. The company, run by American sports mogul Stan Kroenke, now own 67% of the Gunners having steadily acquired more shares since initially buying a 9.9% stake back in 2007.

The American increased his shareholding - through his company Kroenke Sports Enterprise - to 67.05 per cent of the club with a purchase of 23 ordinary shares in May 2016, the Sky news said.

Uzbek-born Russian Usmanov has made a 1 billion pounds bid to take full control of Arsenal, but majority shareholder Stan Kroenke has shown no interest in it.

Manager Arsene Wenger has been the target of most of the criticism for Arsenal's disappointing campaign but fans turned their attention to the owner, singing "Stan Kroenke, get out of our club" during the second half.

Kroenke has given an informal indication that he's not interested in selling, according to the Financial Times, which earlier reported the offer.

Wenger said his future won't be settled until a board meeting is held after Arsenal plays Chelsea in the FA Cup final on May 27.

"I respect Stan Kroenke a lot".

Kroenke, though, could face a battle to win back the trust of those supporters who believe a change is needed in the boardroom.

U.S. entrepeneur Kroenke, 69, has been in charge at the Emirates since 2011 but, like Wenger, has seen protests from Arsenal's fanbase increase exponentially throughout the season over his running of the club. This includes the need to prepare a successor for Wenger, but in a very respectful way.

Other bidders are thought to be ready to make a move for Kroenke's share in Arsenal and Usmanov could return with a more substantial bid.

What with the distinct possibility of Arsenal missing out on £50million's worth of Champions League revenue next season, Usmanov was apparently hoping to strike while the iron was tepid.

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