Filed under: Arsenal, Premier League, Football
We've seen it happen at Chelsea, Manchester City - even at Notts County for six months or so - that when a foreign owner comes in, the cash is splashed.But Stan Kroenke, the man who has launched a takeover of Arsenal may rewrite the way things are done when an outsider takes up the reins - because, to the possible consternation of Gunners, he is likely to keep things exactly as they are.
The American businessman bought out long-time holders Danny Fiszman and Lady Nina Bracewell-Smith on Monday morning to bring his stake to 62.89 per cent, which has in turn led him to mount an offer for the remainder of the shares that values the club at £731 million. This also means every club in the top four of the English Premier League is under foreign ownership.
He said in a statement: "Arsenal are a fantastic club with a special history and tradition and a wonderful manager in Arsene 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.
"We especially wish to acknowledge and thank the board, Danny Fiszman and the Fiszman family as well as Lady Nina Bracewell-Smith and her family for the confidence they have had in me over the past years and in allowing us to move forward in this more prominent role."
But will Arsenal falling under American ownership be a bad thing? The Supporters Trust, who last week expressed "considerable disappointment" at the current season under Arsene Wenger, don't think so.
They said in a statement: "Stan Kroenke has a good relationship with the AST and recently supported our Fanshare scheme. We are hopeful of having discussions with him on how our members and Arsenal supporters can keep their shares in Arsenal FC."
But if the takeover goes through, there is little evidence - despite his assertion that he will "take the club to new success" - that he will spend mountains of money in the vein of the owners of Chelsea or Manchester City.
His teams in America - the Denver Nuggets, Colorado Avalanche, the Colorado Rapids and the St Louis Rams - have not had massive cash injections; rather he has improved stadiums and facilities.
In fact the very reason why he has been welcomed onto the board and Alisher Usmanov - the second-largest shareholder with a 27 per cent stake - hasn't is because the latter has made it clear he would invest heavily in the squad in search of success, where Kroenke seemed to fit the current strategy.
And to a businessman, Arsenal are in great shape. They turn a profit and under Wenger have been one of only two sides in the Premier League who have been in the money-spinning Champions League every year for the past 12 years.
And Wenger's reaction indicates that things may stay as they are. He said: "[Kroenke] understands the club's heritage and traditions and our ambition to run the club in a way which protects our long-term future."
Why would Kroenke want to change a thing? Arsenal already make money, if not gather trophies. The fact they have not won anything for six years will mean little to a man who has admitted he has little interest in the English Premier League, made his money in real estate and is happy as long as the numbers add up right.
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Source: http://www.fanhouse.co.uk/2011/04/11/premier-league-arsenal-takeover-stan-kroenke/
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