Kroenke now popular with Arsenal board

Once spurned by the English Arsenal board, U.S. billionaire Stan Kroenke now is being courted by the people who blocked his attempt to take over the club.

Kroenke is being asked not sell his 12.2 percent stake in the club, standing by the Arsenal board agreement not to make major sales through April.

Chairman Peter Hill-Wood, who once said of Kroenke that the club doesn't need his type, now needs Kroenke to halt the growing share power of Uzbek businessman Alisher Usmanov. With Usmanov at 23 percent, Kroenke at 12 and Arsenal board holding 45 percent between them, every share held is vital for control of the club.

"I think it would be rather nice if he (Kroenke) would join the lockdown," Hill-Wood said. "It's obviously up to him but we would welcome it. He now sees the benefits from a long-term relationship with us and is not remotely interested in making a bid."

The shareholders are looking to extend their no-sell agreement for another 12 months. They did not get a signed agreement from Kroenke not to sell, but Arsenal officials called the meetings with Kroenke as being positive.

Usnamov said he had not ruled out making a bid for the club, though it was not in the immediate future.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.