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Kroenke not interested in Arsenal takeover
England - 03 July, 2008
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American billionaire Stan Kroenke is soon to take a seat on the board of English club Arsenal.
Kroenke owns 12 percent of the club's shares, and claims that even though he is being added to the board, he has 'no intention' of gaining total control of the club.
Kroenke's interest in investing in the Premier League club is related to his belief that football will begin to gain popularity in the United States, much like other sports like basketball and baseball have become.
"I don't think he has any intention," Aresenal chairman Peter Hill-Wood told the Telegraph.
"Certainly in the short term. In the long term, in 10 years' time, he may take a different view. Things might change. He is certainly committed to not taking over the club."
The English club will be looking for a new chief executive, and Kroenke will not be involved in the screening process. According to Hill-Wood, there are 'about a dozen' candidates, some of which may not be in the football business.
Kroenke owns 12 percent of the club's shares, and claims that even though he is being added to the board, he has 'no intention' of gaining total control of the club.
Kroenke's interest in investing in the Premier League club is related to his belief that football will begin to gain popularity in the United States, much like other sports like basketball and baseball have become.
"I don't think he has any intention," Aresenal chairman Peter Hill-Wood told the Telegraph.
"Certainly in the short term. In the long term, in 10 years' time, he may take a different view. Things might change. He is certainly committed to not taking over the club."
The English club will be looking for a new chief executive, and Kroenke will not be involved in the screening process. According to Hill-Wood, there are 'about a dozen' candidates, some of which may not be in the football business.
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