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08th-Aug-2018

US sports mogul Kroenke makes offer to buy Arsenal

By AFP, London


Arsenal majority shareholder Stan Kroenke on Tuesday announced an offer to buy the entire British football club, valuing it at o1.8 billion ($2.3 billion, 2 billion euros).
The American sports mogul, who already owns 67 percent of Arsenal through his company KSE, has reached a deal with Russian billionaire Alisher Usmanov for the sale of his 30 percent stake, according to a statement to the London Stock Exchange.
"KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions," it said in the statement.
"KSE is a committed, long-term owner of the club".
Kroenke, owner of the Los Angeles Rams American football team, has been a part-owner of Arsenal since 2007, gradually increasing his stake in the club since.