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Kroenke takeover not welcomed by Arsenal
England - 19 April, 2007
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Stan Kroenke's attempts to possibly try a takeover of English Arsenal have drawn the ire of club chairman Peter Hill-Wood.
Kroenke, a U.S. billionaire, recently bought 9.9 percent of Arsenal and also acquired more shares from major stakeholder Danny Fiszman.
But Hill-Wood said he and Fiszman, Nina Bracewell-Smith and the Carr family, the prominent shareholders in the club, will not sell.
"The shareholders would prefer to stay in control than sell out to some stranger," Hill-Wood said. "We would be horrified to see ownership of the club go across the Atlantic.
"These people love Arsenal, they are independently wealthy and do not need the money. Having a few extra million pounds in the bank is of no interest to them."
Kroenke, a U.S. billionaire, recently bought 9.9 percent of Arsenal and also acquired more shares from major stakeholder Danny Fiszman.
But Hill-Wood said he and Fiszman, Nina Bracewell-Smith and the Carr family, the prominent shareholders in the club, will not sell.
"The shareholders would prefer to stay in control than sell out to some stranger," Hill-Wood said. "We would be horrified to see ownership of the club go across the Atlantic.
"These people love Arsenal, they are independently wealthy and do not need the money. Having a few extra million pounds in the bank is of no interest to them."
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