LONDON — American investor Stan Kroenke is set to take control of English Premier League club Arsenal and end the long-running uncertainty about the ownership, according to a supporters group.
The Arsenal Supporters’ Trust told The Associated Press on Sunday that Kroenke plans to raise his holding from just less than 30 percent to 62 percent, exceeding the 50 percent threshold that gives him legal control.
The AST, whose members own around 3 percent of the club, said an announcement is to be made today that Kroenke has agreed to buy the shares of Danny Fiszman and Nina Bracewell-Smith.
Each of them has a 16 percent stake in Arsenal, which is listed on London’s Plus Market.
By taking his holding beyond 50 percent, Kroenke would be obliged to make a formal offer for the remainder of the shares at around $19,000 each. If he reaches 90 percent, he can compulsorily purchase the remaining shares.
Four other Premier League clubs are owned by Americans — Malcolm Glazer at Manchester United, John Henry at Liverpool, Randy Lerner at Aston Villa and Ellis Short at Sunderland. EPL teams Chelsea, Manchester City, Fulham, Blackburn and Birmingham also are owned by foreigners.
Kroenke, who owns the Nuggets, the Avalanche and the Rapids, is already Arsenal’s largest shareholder and a director.
The next-largest shareholder, Russian businessman Alisher Usmanov, owns more than 27 percent through Red & White Holdings but has not been invited onto the board of directors.
The AST has close links with Arsenal’s investors and executives, who have endorsed its low-cost scheme that enables fans to buy small stakes in the club.
Supporters can make small contributions to the “Fanshares” initiative before gaining an actual portion of Arsenal and be given a chance to attend key club meetings.
AST board member Tim Payton said the trust would oppose a full 100 percent ownership by Kroenke and would want fans to remain shareholders.
“The Arsenal Supporters’ Trust hopes that fans will still have a role in Arsenal’s structure,” Payton told The AP. “Arsenal is the last major club with supporters able to own shares, and we know Kroenke has previously praised this arrangement.
“Just last month (Arsenal chief executive) Ivan Gazidis and the AST promoted Arsenal Fanshare to the government inquiry into football governance.”
Kroenke could not be reached for comment, and Arsenal’s internal communications department said it was not responding to the takeover reports.
