Kroenke scores £550m Deutsche loan for full Arsenal takeover

Kroenke wants to buy whole of Arsenal

Explained: Kroenke's takeover of Arsenal FCWho is Stan Kroenke?

Arsenal majority shareholder Stan Kroenke has bid £600m to take full control of the Premier League club.

"I think it's very sad that we're in danger of losing any transparency into how our club is run", he told Reuters.

The U.S. -based Kroenke Sports and Entertainment owns 67 percent of the club and has offered to purchase the 30 percent held by Alisher Usmanov's Red and White Securities firm.

The US businessman's company, Kroenke Sports Enterprise (KSE), made a statement to the London Stock Exchange on Tuesday in which it thanked Usmanov for his "dedication to the club".

Get the latest World Cup news updates. Buying up Usmanov's shares puts him over the 90-percent threshold that allows him to force out smaller remaining shareholders, who own a combined three percent.

Uzbek-born Usmanov past year attempted to buy control of the Gunners by offering £1 billion (US$1.3 billion) for Kroenke's shares, but had his offer rejected.

While Kroenke says taking sole ownership will benefit the club, the Arsenal Supporters' Trust (AST) called the news "a awful day" for the Gunners.

Here’s why the DSS DG, Daura was sacked
Osinbajo has " directed the termination of the appointment of the DG of the DSS, Mr. This was announced by Laolu Akande , the spokesperson of the acting President, Prof.

In a statement, Red and White Securities confirmed their acceptance of the deal on offer from KSE.

Arsenal last year parted ways with Arsene Wenger, who had managed the club for over 20 years after they finished the season 6th in the Permier League, their worst position since 1992.

Kroenke will be raising the capital to take control of the club with £45m of his own money and borrowing £557m, which he says will not be against the club.

"KSE's ambitions for the club are to see it competing consistently to win the Premier League and the Champions League, as well as the major trophies in the women's senior game and at youth level", added the KSE statement.

Further down the document, it is stated that until the loan is settled, all dividends that Kroenke would ordinarily be able to claim, are due to Deutsche Bank as part of the agreement.

"The AST is extremely concerned to note that this purchase is being funded by a loan". "Many of these fans are AST members and hold their shares not for value but as custodians who care for the future of the club".

"Kroenke's actions will neuter their voice and involvement".

The Arsenal Supporters' Trust have expressed concern over Stan Kroenke's plans to complete a takeover of the club. "Arsenal remains too important to be owned by any one person".

Related news:

Hot News

isis-killer-beheading-video-story-top Woman helps stranger in need of cash, finds out it's Keith Urban
Aug 07, 2018 - 22:57
She said that for the last several years she has made it a resolution to pay for someone's purchases at Wawa at least once a week. Paying it forward at a Medford Wawa Friday led to a memorable encounter with singer Keith Urban for a local substitute teacher.

isis-killer-beheading-video-story-top Saudi suspends flights to Canada ahead of Hajj
Aug 07, 2018 - 20:57
At the same time, it sends a strong message to European and Middle Eastern countries not to "mess" with Saudi Arabia, Juneau said.

isis-killer-beheading-video-story-top Karunanidhi health condition: Critical and unstable, says hospital bulletin
Aug 07, 2018 - 20:42
Karunanidhi entered politics at the age of 14, after being inspired by a speech made by Alagiriswami of the Justice Party in 1932. The transition from Annadurai to Karunanidhi is a rallying point not just for the DMK, but also for the state's politics.

isis-killer-beheading-video-story-top Anderson's late strike denies Gerrard winning Premiership start
Aug 07, 2018 - 19:47
Celtic won an unprecedented "double-treble" last season with victories in the league and both domestic cup competitions.

isis-killer-beheading-video-story-top Bachelorette Becca Kufrin picks her man and Bachelor Nation does not approve
Aug 07, 2018 - 18:59
Most fans saw this coming - Blake gets his heart broken into a million pieces and Becca gives her final rose to Blake . Blake , ever the gentleman, told Becca she had nothing to say sorry for and that he wanted her to be happy.

isis-killer-beheading-video-story-top $250 mil superyacht at centre of 1MDB scandal sails to Malaysia
Aug 07, 2018 - 18:40
Najib set up 1MDB when he took power in 2009, but it accumulated billions in debts. On Saturday, the Indonesian government agreed to hand over the yacht to Malaysia.

isis-killer-beheading-video-story-top Arsenal valued at $3.1 billion as Kroenke moves to take complete control
Aug 07, 2018 - 17:44
After news broke of the bid the Arsenal Supporters' Trust (AST) called it a "dreadful day" for the football club. Kroenke now holds 41,743 Arsenal shares, approximately 67.09 per cent of the club.

isis-killer-beheading-video-story-top Melania Trump praises LeBron James hours after Donald Trump's online swipe
Aug 07, 2018 - 15:45
Kiffin retweeted a story from Sporting News about Melania Trump praising LeBron James for opening his I Promise school . Instead, Bleacher Report shares that Jordan has also issued a statement in support of his fellow athlete.

isis-killer-beheading-video-story-top Manager of Brooklyn nail salon explains how violent brawl broke out
Aug 07, 2018 - 14:53
Thomas says that when she refused to pay for the eyebrow job that she thought was done poorly, an argument ensued and escalated. Meanwhile, the Facebook page for New Red Apple Nail salon has been flooded with negative reviews and backlash over the incident.

isis-killer-beheading-video-story-top 1 killed, 90 wounded by Israel in Hamas-led Gaza protests
Aug 07, 2018 - 14:29
Earlier on Monday, Hayya and Mushtaha set out from the blockaded Gaza for the Egyptian capital via the Rafah border crossing. It said a tank fired at a Hamas military post in Gaza after Palestinians briefly crossed the frontier and threw bombs.

isis-killer-beheading-video-story-top Inter Milan strike personal terms with Real Madrid midfielder Modric
Aug 07, 2018 - 13:53
I have no doubt whatsoever regarding the fact that Modric will continue to play marvelously with us as he has always done. Modric has been heavily linked with a summer move to join Serie A club, Inter Milan .

isis-killer-beheading-video-story-top Imran Khans party says hell be named Pakistan PM candidate on Monday
Aug 07, 2018 - 12:44
The MQM-P will have one minister in the federal cabinet, while an adviser would be inducted later, the report said. Despite all its efforts, the PTI-led government will remain vulnerable to the demands of its coalition partners.

isis-killer-beheading-video-story-top A Russian helicopter has crashed in Siberia killing 18 oil workers
Aug 07, 2018 - 11:42
The country's Investigative Committee said it opened a criminal investigation into the crash. In April, a Mi-8 helicopter crashed in far eastern Russian Federation , killing six people.

isis-killer-beheading-video-story-top Massive rogue planet crowned with a glowing aurora found wandering the galaxy
Aug 07, 2018 - 11:42
The unusual object sits in a grey area between a star and a planet, and was originally classed as a "brown dwarf" - a failed star. The object is about 20 light years away from Earth, farther than the Alpha Centauri star system that is about 4 light years away.

isis-killer-beheading-video-story-top SAFD sending crew to help battle deadly Carr Fire in California
Aug 07, 2018 - 08:37
Another blaze that ignited last week has damaged a historic Northern California resort in the Stanislaus National Forest. The expectation is that the JBLM engineers will be on the ground in California by August 13, said Army Col.