Stan Kroenke up his Arsenal stake with share purchase

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Arsenal’s majority shareholder, Stan Kroenke, has increased his stake-holding in the club after purchasing a further 22 shares at £28,000 each.

A statement issued by the London Stock Exchange reads:

On 23rd January 2018, Arsenal Holdings plc (the “Company”) received notification that on 22nd January 2018, KSE UK Inc, wholly owned by Stanley Kroenke, a director of the Company, acquired 22 ordinary shares of GBP1.00 each in the Company at a price of GBP28,000 per share.

Taking into account such acquisition, KSE UK Inc, wholly owned by Stanley Kroenke, has a beneficial interest in, and controls voting rights over, 41,743 ordinary shares in the Company, representing 67.09% of the Company’s issued ordinary shares.

It’s a sign that the American has no plans to divest any of his shares in the club, and has tightened his grip, perhaps ahead of rumoured changes at board level in the coming months.

There have been tit for tat bids between Kroenke and the second largest shareholder Alisher Usmanov, with neither man prepared to sell to the other but the 70 year old holds all the power because of his controlling share.

However, the Russian billionaire may find life over the coming months uncomfortable if he’s named by the US Treasury as one of the oligarchs close to Vladmir Putin and thus subject to sanctions on his business dealings.

The murky world of billionaires, the 1% of the 1% and the people who own our football club. Lovely stuff.

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