Arsenal Supporters’ Trust plead with Alisher Usmanov not to sell his shares to Stan Kroenke
Gunners majority shareholder has made his move offering to buy out Usmanov who is the club's second largest stakeholder at the Emirates
THE Arsenal Supporters Trust has pleaded with major shareholder Alisher Usmanov not to sell out to majority shareholder Stan Kroenke.
The Russian billionaire holds a 30 per cent stake at the Emirates with reports suggesting Kroenke is set to offer £525million for the 18,695 shares held by Usmanov’s Red and White Securities Limited.
Usmanov has always stated he would not sell his stake in the club, but he has never been given a seat on the Arsenal board.
The Russian made a move to buy the Premier League club, resulting in Kroenke consolidating his position in North London.
The American businessman said through Kroenke Sports Enterprises (KSE): “Shares are not, and never have been for sale – we are committed, long-term invester in Arsenal and will remain so.”
Kroenke first bought shares in Arsenal in 2007, when he bought 9.9 per cent of the club.
Since then he has gone on to invest around £700million in them.
It is understood AST had made contact with Usmanov’s representatives amid reports he is prepared to sell.
The supporters' group are keen to stress how important Usmanov’s role at the club is in terms of holding other senior figures to account.
The trust fears, if Kroenke gets his hands on Usmanov’s stake in the Premier League club, then smaller shareholders will also sell and the Gunners will turn into a privately-owned company.
If that was to happen then the Annual General Meeting where all shareholders get to have their say and put questions to the board could be axed.
A policy statement, published on the AST website in 2016, reads: "The AST continues to believe that Arsenal is too important to be owned by any one person.
"The best ownership model for Arsenal will always include supporters being represented and involved in the ownership structure as shareholders.
"We understand the reality that any stake in Arsenal is available to buy at any time should someone make an acceptable bid, but we will oppose any attempt to buy the club outright and take it into single ownership."
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