Arsenal Agree to $1.2 Billion Takeover by Stan Kroenke
The American invasion of the Premier League is set to expand to include Arsenal as the latest team owned by a businessman from the United States. Currently, Liverpool, Manchester United, Aston Villa and Sunderland are owned by Americans. Arsenal will become the fifth team to have an American owner.
Stan Kroenke already owns several sports teams including NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, NFL team the St Louis Rams, and Major League Soccer team the Colorado Rapids. Now he’s poised to add Arsenal to his mantelpiece, one of the best known soccer brands in the world.
He currently owns 62 percent of Arsenal and now will make an offer for the remaining shares, according to several media outlets in England.
“We are excited about the opportunity to increase our involvement with and commitment to Arsenal,” said Kroenke. “Arsenal is a fantastic Club with a special history and tradition and a wonderful manager in Arsène Wenger. We intend to build on this rich heritage and take the Club to new success. I am delighted that Peter Hill-Wood has agreed to support us by continuing as Chairman.”
Arsene Wenger added his two cents regarding the news. “I have worked with Stan Kroenke at board meetings over the past couple of years and I believe he has the best interests of Arsenal at heart,” said Wenger. “He understands the Club’s heritage and traditions and our ambition to run the Club in a way which protects our long term future.”
The American influence in the Premier League goes beyond just the four clubs owned by Americans (soon to be five). For example, the chairman of Chelsea Football Club, Bruce Buck, is American. Robert Earl, CEO of Planet Hollywood (based out of Orlando) is a director at Everton Football Club. And of course there are several high profile Americans who play in the Premier League at a variety of clubs.
What do you think about the Stan Kroenke news? Do you think it’s a good or bad move for Arsenal? And what do you think about more American owners taking over English Premier League clubs? Share your insight in the comments section below.