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Kroenke buys Arsenal stake

• turbo_drift

  6 Apr 07, 10:55

  
  
  Kroenke Sports Enterprises have bought a 9.99 per cent stake in Arsenal Holdings plc, according to ITV.
  
  ITV owned the 9.99 per cent but the television broadcasters have announced they have unconditionally sold their shareholding interest.
  
  Conditional arrangements have also been entered between ITV and KSE regarding the sale of a 50 per cent stake in Arsenal Broadband Ltd.
  
  If the two transactions are completed the price tag would be £65million.
  
  A statement to the stock exchange read: "ITV plc today announced that it had unconditionally sold its 9.99% shareholding interest in Arsenal Holdings plc to KSE UK INC, a vehicle controlled by Stan Kroenke, and has also entered into conditional arrangements with KSE UK INC in relation to the sale of its 50% shareholding in Arsenal Broadband Limited."
  
  American businessman Stan Kroenke, the owner of Major League Soccer side Colorado Rapids, has been linked with a takeover of The Gunners for some time.
  
  Arsenal and Colorado agreed an exclusive partnership in February, with the aim of the venture to build the Premiership club's standing in America, help improve the quality of the Rapids and provide support to the grass roots game in the US.
  
  Meanwhile, Emmanuel Eboue has emerged as a serious injury concern ahead of Arsenal's Premiership clash with West Ham on Saturday.
  
  The right-back has a groin problem and his chances of featuring have been rated as only 50-50.
  
  He will be given a fitness test on Good Friday before a final decision is made.
  
  "Eboue is a doubt," confirmed manager Arsene Wenger. "He has a problem with his groin."
• turbo_drift

  13 Apr 07, 15:07

  KSE increase Arsenal stake
  
  It has been confirmed that Kroenke Sports Enterprises have a total stake in Arsenal of just over 11 per cent.
  
  KSE bought a 9.99 per cent stake in Arsenal Holdings plc last week, as ITV unconditionally sold their shareholding interest in the club to American businessman Stan Kroenke's company.
  
  One of the club's majority shareholders Danny Fiszman sold off around one per cent of his holding last month, and an announcement on the Alternative Plus Market Exchange - where Arsenal's shares are listed - has now confirmed that KSE were the buyers.
  
  The Geneva-based Fiszman still has a 24.11 per cent stake, but if he decided to sell that to KSE, the US group would have well over the 30 per cent threshold needed to launch a formal takeover bid for Arsenal.
  
  Fiszman has not suggested he is contemplating selling up, but Kroenke, the owner of Major League Soccer side Colorado Rapids, continues to be linked with a takeover of The Gunners.
  
  However, KSE vice president and chief marketing officer Paul Andrews has refused to be drawn on the issue.
  
  "We do not ever speculate in relation to our investments, or future intentions," he said.
  
  "We do not do that across our business in the United States and we will not do that in the UK.
  
  Andrews added: "Arsenal is a great brand and we are excited to be part of that."
  
  Arsenal chairman Peter Hill-Wood admits the board are unsure what Kroenke may have planned.
  
  "We are in the dark and I certainly have no idea of what his intentions are," he said.
  
  "It was no secret that ITV were looking to sell their stake, but you would have thought that they [KSE] would have contacted us before they bought it, but they did not and that is their business. So I am none the wiser."