Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Fans' Trust To Keep Arsenal Shares

Tue 12th Apr 2011 | Clubs Ownership

The Arsenal Supporters Trust will not be selling their shares to prospective new owner Stan Kroenke after voting "unanimously" to retain a stake in the club.

Kroenke triggered a full takeover on Monday when he secured a controlling stake in the club and the American businessman is now obliged to make a mandatory cash offer for the remaining capital.

Arsenal's board has recommended all shareholders accept the offer, priced at £11,750 per share, but the AST vowed not to relinquish their involvement in the club's ownership structure.

The supporters added they were encouraged to hear that Russian businessman Alisher Usmanov plans to keep hold of his 27% stake.

More than 100 members met in London on Monday night to discuss the proposed takeover and an AST spokesman said: "Arsenal is too important to be owned by any one person.

"The AST wants to work with Stan Kroenke to keep Arsenal supporters involved in the club's ownership structure.

"The AST and the Arsenal Fanshare scheme will not be selling the shares it owns and urges all supporters to reject this offer.

"In just six months the Arsenal Fanshare scheme has gained 1800 members who have invested £500,000 in Arsenal shares.

"This scheme has been widely praised across the football community and is supported by the Government who are currently reviewing football's governance structures.

"AST is encouraged to hear Red & White plan to keep their shares. They have previously stated their long-term commitment to the club and this decision would be a good demonstration of that."

The AST is not against Kroenke's takeover but their support is strongly dependent on the retention of fan involvement in the ownership of the club.

The supporters were certainly encouraged by Kroenke's confirmation that his takeover bid will not be financed by debt secured against the club.

AST officials met with Arsenal chief executive Ivan Gazidis on Monday and received assurances that Kroenke recognises the importance of a supporters' stake in the club.

"The Arsenal board supported Arsenal Fanshare and Stan Kroenke was a member of the board at the time," said the AST spokesman.

"Stan Kroenke has also previously told the AST that he sees supporter shareholders making an important contribution to the club and that the AST provides 'independent perspective to the shareholders, board and management'.

"The AST spoke to Ivan Gazidis on Monday, April 11 and he reiterated the importance he places upon fans' involvement in the club and stated his commitment to custodianship.

"The AST is encouraged that Kroenke's offer states that he does not intend to 'de-list' Arsenal from the PLUS markets.

"In the next few days we will seek further confirmation of his plans in this area and would like to see more detail on this subject in the formal KSE offer document."






If you have any football business related news stories you’d like to share then please contact us –agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Mike Ashley Puts Newcastle United Up For Sale

Tue 17th Oct 2017 | Clubs Ownership

Mike Ashley has formally announced his intention to sell Newcastle United. In a statement released on Monday evening, it was announced that owner Mike Ashley was looking to sell the club by Christmas...

EFL To Consider US Style Interventions At Troubled Clubs

Thu 21st Sep 2017 | Clubs Ownership

Giving the EFL unprecedented American-style powers to take over the running of clubs in crisis will be on the agenda when clubs meet today to discuss how the situation which ravaged Leyton Orient can...

Ossett Albion Takeover Brings Readymade Academy

Wed 13th Sep 2017 | Clubs Ownership

The founders and directors of Unita, a local based facilities management company, have taken the reigns at Ossett Albion in a move which sees the EVO-Stik North club inherit a ready-made football...

Southampton Secures Chinese Investment Partners

Mon 14th Aug 2017 | Clubs Ownership

Southampton Football Club has announced the formal conclusion of talks which will see Chinese businessman Mr Jisheng Gao take a stake in the Premier League club. In a letter to fans issued on Monday...