Wednesday, 4 October 2017

Kroenke Offers N236B For Arsenal Takeover

Arsenal majority shareholder Stan Kroenke has allegedly launched a bid to purchase Alisher Usmanov's stake in the club.
The businessman has tabled an offer worth almost 236 billion naira (£525m) to buy out the Russian, according to The Guardian.

Kroenke currently owns 67% of the English Premier League club's shares, a shareholding that will rise to more than 97% if his latest attempt to broker a deal goes through.

Usmanov has attempted to buy out the American on a number of occasions, the latest coming in May.

However, Kroenke is said to have returned to the negotiating table with a counteroffer of N12,4b per share to purchase Usmanov's 30.4% Gunners stake.

The report states that the deal could pave the way for Kroenke to buy out Arsenal's minority shareholders and turn the club into a privately-owned business.

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