Kroenke generates gradual support for Arsenal takeover

The Telegraph reports that Stan Kroenke, who is now a 29.9 shareholder of English Arsenal Football Club, will not create a controversial takeover move that will involve upset fans.

When responding to inquiries from made by the Arsenal Supporters’ Trust, Kroenke ensured the fans that he will operate like controversial takeover situations that occurred with Manchester United and Liverpool FC.

The American is only 71 shares away from the takeover mark.

When Peter Hill-Wood, chairman, sold 100 of his shares to Kroenke, it was made clear that the board is comfortable with him as a controlling shareholder, which is a change from when Kroenke first purchase shares in 2007. With the board holding nearly 50 per cent of the shares, Lady Bracewell-Smith and Alshier Usmanov need not have a seat on the board.

The Arsenal Supporter’s Trust is comfortable with Kroenke’s experience with sports teams in the past, as club manager Arsène Wenger is also fine with his involvement.