Kroenke says Arsenal not for sale after Usmanov bid

Posted May 22, 2017

Kroenke has gotten away scott-free for much of the protest, but with Alisher Usmanov finally making an offer to take over the club, you can expect the direction of those protests to take a huge turn.

Usmanov's offer values the club at as much as 2 billion pounds ($2.6 billion), the people said, asking not to be identified discussing a confidential matter.

He (Kroenke) is understood not to have dismissed the idea out of hand at first. However, he has since informally indicated he is not interested in selling to Mr Usmanov or anyone else. "Now I am not so sure", The Financial Times quotes a source as saying. The Uzbek-born Russian steel magnate, who is worth an estimated £10.65bn, has stated his concern with a lack of investment by the Texan, who himself continues to acquire land of his own across the United States.

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

This is not the first such buyout attempt made by Usmanov, and there were rumblings that after this disappointing season when Arsenal look likely to miss out on a Champions League spot for the first time in 20 years, Kroenke would want to sell out.

Usmanov would seemingly be keen to listen to supporters over Arsene Wenger's future in that Sky Sports reference comments he recently made suggesting that the French tactician should be preparing a successor already.

Wenger defended Kroenke after the game, saying: "I respect Stan Kroenke a lot".

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.

As noted in the report, there has been tension between Usmanov and Kroenke, with the latter not allowing the former a place on the club's board. Usmanov past year increased his stake to 30%, buying out Moshiri, who went on to purchase Everton.

KSE UK is the holding company for American Kroenke's interest in Arsenal.