Date: 22nd May 2017 at 11:48am
Written by:

Alisher Usmanov’s efforts to wrestle complete control from Stan Kroenke is doomed to fail as Arsenal’s majority shareholder has insisted his shares are not for sale.

The American has issued a statement on the stock market this morning with the BBC reporting his Kroenke Sports and Entertainment company said his shares ‘are not, and have never been, for sale.’

Despite Arsenal’s failure to make it into the Champions League Kroenke, who currently holds a 67% stake in the club, went on to say in the statement he was a ‘committed, long-term investor in Arsenal and will remain so.’

Usmanov, who failed with his £1n bid to gain full control at Arsenal over the weekend, isn’t part of the board and has no say in decision-making at the club – he has already said Kroenke needed to ‘bear huge responsibility’ for the Gunners’ off-the-field failings.

Arsene Wenger’s future at Arsenal wasn’t mentioned but many feel failure to change at boardroom level will almost certainly mean – rightly or wrongly – Wenger will continue into next season.

It is also feared the mediocre performances of Kroenke’s other sporting franchises, on-the-field, is seen as a major concern for the Gunners’ ability to compete successfully going forward.

The statement was quoted by Sky Sports: ‘KSE UK, Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms that its shares are not, and never have been, for sale. KSE is a committed, long-term investor in Arsenal and will remain so.’

Bloggers
Join The Vital Debate