The Colorado Rapids owner has purchased a 50% stake in Arsenal Broadband Limited for $45.4 million. Kroenke bought his stake from ITV, which is abandoning its business in football assets.
Sports tycoon Kroenke hasn’t been shy about his intentions to invest in Arsenal. The American currently owns 12% of Arsenal, while Russian billionaire Alisher Usmanov and a partner own around 24%. The Arsenal board, meanwhile, has more than a 40% stake in the club.
Kroenke’s investment in Arsenal Broadband Limited is probably more of a power-play than a desire to generate profits with Arsenal.com As of March 29th, Arsenal.com was the fifth most visited football website in the United Kingdom.
The plot at the Emirates Stadium continues to see which foreign investor will eventually take control of the club, which despite the claims from the Arsenal board, is inevitable.
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