Kroenke to become sole owner of Arsenal after Usmanov accepts bid

Since 2007 the American billionaire has been a part owner of the 'Gunners' along side Usmaov and some private shareholders, although they owned just 3% of the club.

Back in 2017, Usmanov offered £1 billion to take outright control of the north London outfit which was rejected by Kroenke, but now the tables have turned and it is Kroenke who has offered to become the sole owner.

In a statement, Usmanov said that he will accept the £550 million offer for the 30% of the club that he owns.

The deal means that the remaining shareholders, many of which are fans, have to sell their shares in Arsenal to Stan Kroenke and it will therefore be taken off the stock market.

Kroenke's holding company, KSE, told the London Stock Exchange that its"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,"

Meanwhile, Arsenal supporters have expressed their sadness at the deal going through, with the Arsenal Supporters' Trust stating that this a "very sad day for Arsenal football club."

"Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values," 'AST' continued.

Fans are also concerned about the bulk of this money coming in the form of loans, but KSE insist that it will not be taken out against the club.