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Shareholder Alisher Usmanov says he accepts rival Stan Kroenke's bid for club

11 August 2018

Africa's richest man, Aliko Dangote, has failed in his bid to purchase English Premier League football club, Arsenal. Americans have had a mixed fortune as Premier League owners, with the Glazer family rarely popular at Manchester United, even when the club won the league.

Corbyn, an Arsenal fan, has added his voice to supporters' anger at Kroenke buying the 30-percent stake of the club's second-largest shareholder, Alisher Usmanov.

That paves the way for Kroenke Sports and Entertainment (KSE) to take full control, buying out all remaining shareholders and taking the club private.

The Russian made a bid to buy-out Kroenke a year ago but it failed and, with his business partner Farhad Moshiri owning Everton, Usmanov could invest the money he is set to receive from KSE into the Toffees and be made to feel much more welcome.

Stan Kroenke makes share bid for full control of Arsenal
Arsenal: Shareholder Alisher Usmanov says he accepts rival Stan Kroenke's bid for club

The conclusion of the deal "will result in the opening of a new chapter in the history of the Club", a statement said.

Supporter groups have cried out, calling this a "dreadful day" for the Gunners - but would the move actually benefit the club on the pitch?

Kroenke, who also owns the NFL's Los Angeles Rams, now owns 67 per cent of Arsenal and has taken a bank loan to spend £550 million (NZ$1.06b) on Usmanov's shares.

Kroenke, owner of the Los Angeles Rams in the National Football League, has been a part-owner of Arsenal since 2007, gradually increasing his stake in the club.

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The motion, put forward by Brian Sedgemore MP, read: "This House believes that Arsenal is the best club football team in the world at the moment and admires them for the fluency and poetry that they have brought to the lovely game".

Usmanov's holding company USM is already a major sponsor of the Goodison Park club, which is owned by his former business partner Farhad Moshiri.

"Many of these fans are AST members and hold their share not for value but as custodians who care about the future of the club".

Regarding his offer to take full ownership, Mr Kroenke said: "We at KSE are moving forward with this offer leading to 100% ownership of the club".

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"It's a real shame that this sale will bring to an end the long-standing official role of Arsenal supporters in the running of the club", said Arsenal fan Corbyn.

Arsenal fans have long complained that the club has not ploughed enough money into the team.

'The financial viability of the deal must also be carefully examined, especially if the club will be purchased via a loan.

Arsenal, who play City in their season-opener on Sunday, are also adjusting to life after Arsene Wenger, who left the club in May after 22 years at the helm, was replaced by former Paris Saint-Germain boss Emery.

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Kroenke dismissed concerns of fans who last saw the team win the Premier League in 2004 and finish sixth last season to miss out on the Champions League.

Shareholder Alisher Usmanov says he accepts rival Stan Kroenke's bid for club