Arsenal’s majority shareholder, Stan Kroenke, has bid almost £525m to buy out Alisher Usmanov, the second-largest shareholder who has tried several times to wrestle control of the club. Only last May the American resisted Usmanov’s latest attempt at a takeover, and within the past couple of weeks this slow-burning power struggle for full control took a twist as Kroenke offered Usmanov £28,000 per share for the Russian’s stake. Kroenke owns 67% of Arsenal; Usmanov has a 30.4% stake. The remaining shares belong to minority shareholders, many of whom have preserved a small holding for decades, even passing down the generations. Having two main investors who do not have a working...
Full Story »