Reports: No KSE payment this year

Stan Kroenke

Arsenal’s latest accounts show that the club will not make any payment to KSE (Kroenke Sports Enterprises) this year.

In each of the last two years a £3m amount for ‘strategic and advisory services’ was listed in the company accounts. That payment is not in the current set of accounts, released last week.

There were questions from fans about what exactly these services were, but no detailed explanation was ever given, leaving rise to speculation that this was Kroenke essentially taking a dividend by another name.

Traditionally, Arsenal’s directors have not taken dividends, although The Telegraph report that the same ‘services’ are still being provided to the club by KSE.

Kroenke remains the club’s majority shareholder with 67.05%, while Alisher Usmanov’s Red and White Securities Ltd hold 30.04%.

For a more forensic look at the accounts, check out the latest post from the always brilliant Swiss Ramble.

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20 Comments on "Reports: No KSE payment this year"

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Cornelius P. Snuffington III
Cornelius P. Snuffington III

Probably stating the obvious, but he’s surely just getting his money via some other channel.


Bit of a weird one, this.


No big deal, last year Arsenal got the last stamp on their KSE loyalty card which meant they got the next strategic and advisory services for free.

Will be back next year.


The money wasn’t paid to Kroenke himself. It was paid to one of his companies, for services rendered. And it has been explained, this can be found on

IG said our answer remains as previously stated. KSE is one of the leading sports companies in the world and has tremendous expertise and experience in a broad range of areas and we are fortunate to be able to draw upon their support. This covers broad areas including our commercial development strategy (revenues have doubled to over £100m per annum in three years), facilities development and stadium management, CRM systems, digital development, fitness, analytics, broadcast strategy, ticketing, catering and stadium tours among others. Our Chairman felt it was right and good governance not to expect to receive services for free but to pay a fee for the wide range of services that have been provided to Arsenal Football Club by KSE.

Sure, the above can be taken as bollocks to “cover up” the payments but why would they do that? Take a step back and think about it, it would be a very roundabout and overly complicated way of getting very little money (six million over two years is peanuts compared to the tens of millions he’s spent in buying shares) out of the club. Surely it would be easier for Kroenke to simply decide that the club shall start paying dividends? Either that, or he could have increased his own wages. That those three million should be some sort of covert payment intended to be hidden from the world is a rather far-fetched idea.

Ted E.

If they pay dividends, all stock owners would receive them, eg Alisher Usmanov. A consulting fee could be a way to extract money for majority owner, without paying minority ownerships.

Andy Mack

The net amount Stan can get after tax etc would be less than he’d get from offering 3m across all the shareholders. Unless he prefers to pay to the taxman than other shareholders, it’s a really inefficient way to do it.

Al Gilmore

It’s a bit naiive of any fan of any club to think the club owner is not in it for some sort of return. What businessman works his entire life to get to where he is only to go “fuck it – I’ll spend the lot on a football club to make a bunch of people happy that I don’t know and who will prob end up hating me for one reason or another. Answer no one.

Now these businesses may have different strategies and a timescales in mind for the return on their investment and may indeed only a very minimal return on their investment – but they don’t want to be losing money for ever and ever.

And clubs like Citeh and Chelsea are/were different to us. They were sooo far behind us in terms of stature and commercial revenue that investment need made sense to pump large sums into them because there was the untapped potential for massive growth of things were done correctly. But with Arsenal we were already the second biggest club in terms of revenue so it was harder to justify massive increases in spending in terms of increased growth. Also bear in mind Chelsea still need investment in a new or improved stadium and Citeh had theirs given them. They didn’t have that massive burden we had with the Emirates. But in a sense the Emirates was our investment in the future more than players or indeed instead of players. And only now is it starting to pay off with improved spending power. Spending power which is sustainable and not based on an owner pumping money in


“What businessman works his entire life to get to where he is only to go “fuck it – I’ll spend the lot on a football club to make a bunch of people happy that I don’t know and who will prob end up hating me for one reason or another. Answer no one.”

I mean, that sounds like Abramovich exactly. the cunt


he did not contribute a single cent to Arsenal FC.

he merely made the previous shareholders rich by buying over their holdings.

I believe i contribute more to ozil’s salary than him after buying a new set of arsenal kit for myself and my family for 3 seasons.

Andy Mack

He’s like the previous shareholders then.

215 Arse

Good. Fuck em.

Karl M

When you think about it, Kroenke hasn’t put one penny into Arsenal. Sure he’s bought shares but that just benefits the former owners of those shares. He has no interest in Arsenal as a football club and just sees it as an investment for the future. Meanwhile most owners of other clubs invest into the club hoping it will bring competitive and financial success.


The rich find ways to get richer..tis life 😕

Kronke the Kunt

Get out of our club.


I never understood why people have a problem with Kroenke.

1) He is silent. So what? I personally prefer him to be silent and leave the football matters to people who know better. Why on earth do you want someone to meddle? Remember Leeds or Newcastle? Meddling owners often lead to disaster.

2) He takes money out. Its his perogative but we do need to grow our commercial revenue stream to balance out ticket prices which we are still too heavily dependent upon for income. If his company has the expertise to do so, they should expect some payment. Its business.

3) He doesn’t want to invest in the squad. I think our squad investment maybe a bit over cautious but certainly we are adopting the right approach in not getting swayed by the hype in the market over high prices. Wenger has been rightly left to decide these things and the funds are there. When he has spent on premium (Ozil, Alexis, Granit, Santi, Cech and Mustafi) he has been generally more careful but also SPOT ON. We spent 90+m this summer.

The spending has been generally on the up bar the Ozil season and last summer. Other than that we have spent over 50-60m any of the other seasons in squad building (the investment had to be spread around because we were adding numbers reconstructing from 2011-2012).

We are now in a different phase no longer needing to add numbers so the funds need to be spread out less and instead we can concentrate more money on a limited number of players to add higher capability.

To me, we have been a prudently managed and financed club.

I simply don’t see the issue some people like to constantly croak about. We built this club on our own success (courtesy of Wenger) and on prudent financial management with our own backs.

Cos you have to be very careful with funds. They can go very quickly.

I will agree that we could have been a little less over cautious in last 2-3 seasons with funds but the brand of Arsenal has been in great shape.

We are always adding for the future and it is a team always packed with exciting potential that develops organically rather than wholesale (expensive) quick change every new manager and one we cannot sustain let alone some of these oil rich clubs.

You look at the Mourinho clubs, he doesn’t stay at those clubs for long because he needs to make a substantial impact byt spending huge sums everytime he joins. It works for 2-3 seasons and then the players get old (the funds are not there for renewal at the level he needs) and the teams start to slide…he packs off…

Its different at Arsenal.

To me Kroenke is there as a safety to create stability. We know we have a well heeled backer who can step in (ONLY) if need be.

Other than that, its best he does what he does best (commercial business side growth) and leaves the football matters to those who know better.

What do they say about empty vessels?


L is an opinion worth listening too.



Do not trust people sporting moustaches.

Vincent Kompany's Forehead
Vincent Kompany's Forehead

I don’t get the issue with the KSE payments.

Stan is a majority shareholder so surely he’s entitled to get some earnings from Arsenal.

The issues with the transfer budget in the past I can completely understand but the KSE issue? No.

It would be nice if he had an actual non-financial interested in Arsenal, but Arsenal is a business after all. The only alternative is to go and support a Bundesliga team, where alot of clubs have fans as shareholders.


This year our profits are very thin, so maybe no “dividends”


If he cared about the Club he would never have taken money in the first place. He’s only stopped taking the money because of pressure and bad publicity. Until we get rid of him we will not be competing for the top prizes.