Kroenke to take charge of Arsenal after Usmanov agrees to sell

Kroenke set to take full control of Arsenal FC in bid valuing club at £1.8bn

"KSE, a DE corporation wholly-owned by Mr E. Stanley Korenke, now holds 41,743 Arsenal Shares, representing approximately 67.09 per cent of the existing issued share capital of Arsenal". KSE said the holders of the remaining 3 percent of Arsenal will be entitled to receive 29,419.64 pounds for each share.

The American, who owns 67 per cent of the club, has put forward a deal - published via the London Stock Exhange - that will see him buy the remainder of the club's shares.

"This news marks a terrible day for Arsenal Football Club", declared an AST statement.

KSE, the corporation owned by Kroenke, now holds 41,743 shares in Arsenal equating to 67.09 per cent control.

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

SpaceX relaunches the final Falcon 9 rocket design
The rocket's first stage returned to earth, landing on the " Of Course I Still Love You " drone ship in the Atlantic Ocean. An artist's impression of the Merah Putih communications satellite in orbit with its solar arrays and antennas deployed.


KSE said in its offer that the takeover will "result in the opening of a new chapter in the history of the Club" and said that: "KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the Club's strategy and ambitions".

In October, Kroenke Sports Enterprise UK (KSE) offered around £525m to buy the 18,695 shares held by Mr Usmanov's Red and White Securities Limited.

"Stan Kroenke taking the Club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values".

"The most terrible part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans", the Trust said.

The Arsenal Supporters' Trust and one independent shareholder condemned the move, saying it would allow Kroenke to run the business with no oversight and to add debt to the balance sheet.

Discovery: Huge glowing 'rogue' planet drifting through space
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 planet, which is 12 times as large as Jupiter , sits around 20 light years away from Earth.


According to Forbes, Kroenke has an estimated net worth of £6.4bn ($8.3bn).

KSE is the holding company of a number of major sports teams including the Los Angeles Rams of the NFL, Denver Nuggets of the NBA, NHL side Colorado Avalanche and Colorado Rapids of the MLS. He began building his stake in Arsenal in 2007 after buying a 9.9% holding from ITV.

Deutsche Bank is advising KSE on the takeover deal.

Arsenal last won the Premier League title in 2004.

The former Paris Saint-Germain manager replaced long-serving boss Arsene Wenger in May.

Tensions high as Patriot Prayer & Antifa protestors stage rival rallies in Portland
The demonstrations Saturday drew hundreds and there was a heavy police presence as similar gatherings have turned violent. Meanwhile, due to the events at the park, officers were only responding to emergency service calls, the bureau said.


Related news:

Hot News

isis-killer-beheading-video-story-top Iran, US trade barbs ahead of renewed sanctions on Tehran
Aug 07, 2018 - 14:38
The two other signatories to the 2015 pact - Russian Federation and China - also continue to support it. There have been protests in Iran against rising prices, and the government has responded firmly.

isis-killer-beheading-video-story-top 1 killed, 90 wounded by Israel in Gaza protests
Aug 07, 2018 - 14:30
The military said its forces responded with riot disposal means and live fire in accordance with appropriate rules of engagement. The ministry says that 159 Palestinians have been killed since the start of the "March of Return" protests on March 30.

isis-killer-beheading-video-story-top MoviePass Limiting Subscribers To 3 Movies Per Month
Aug 07, 2018 - 14:22
The stock rose 3 cents to 10 cents per share in early trading Monday, soaring over 45 percent on the new plan news. MoviePass CEO Mitch Lowe described the change in an interview earlier Monday with The Wall Street Journal .

isis-killer-beheading-video-story-top Organ donation system to be overhauled in England
Aug 07, 2018 - 13:27
Further, 21% of people who died on the organ donation waiting list in the United Kingdom a year ago were from a BAME background. In Wales, a system of presumed consent is in operation and Scotland has also published a plan for an opt-out donation system.

isis-killer-beheading-video-story-top Khan's party says it has enough support to form Pakistan government
Aug 07, 2018 - 12:44
The notification of reserved seats will be issued after issuing notification of candidates declared successful on general seats. The cricketer-turned-politician in his post-poll speech on July 26, said that he wanted to improve ties with India.

isis-killer-beheading-video-story-top Supergirl Movie in Development at Warner Bros
Aug 07, 2018 - 11:36
It has also been said WB was waiting to see if Fallout was going to be a success, which it is, to decide on resigning Cavill. So there is optimism instead of dread at the idea of a new Supergirl movie, which is apparently happening now.

isis-killer-beheading-video-story-top WeHo City Council To Vote On Removing Trump's Star
Aug 07, 2018 - 11:11
He was also ordered to pay US$3700 to the Hollywood Historic Trust and $700 to the Hollywood Chamber of Commerce for the damage. The star recognized Trump for his work on the TV reality show 'The Apprentice .' It has been repaired.

isis-killer-beheading-video-story-top Arsenal defender Kolasinac faces lengthy injury absence
Aug 07, 2018 - 10:30
Unai Emery's side plays their final pre-season friendly on Saturday as they take on Italian giants Lazio in Stockholm. A short note on their official website regarding his health reads: "Sustained an injury to his left knee".

isis-killer-beheading-video-story-top Sarah Sanders Refuses To Say Press Isn't 'The Enemy Of The People'
Aug 07, 2018 - 08:17
Acosta is concerned about angry mobs at rallies who hate the press and he blames Trump for their undeserved scorn. Chuck Todd, NBC News' political director tweeted that her response "only hurts her own credibility".

isis-killer-beheading-video-story-top California Wildfires Made Worse by Environmental Laws
Aug 07, 2018 - 06:06
RUSH FIRE (Lassen County), August 2012 Acres burned: 271,911 in California (43,666 in Nevada) Structures destroyed: 0 Deaths: 0 5. The Carr Fire has claimed six other lives since it began on July 23, including those of a firefighter and a bulldozer operator.

isis-killer-beheading-video-story-top Group rallies in support of OSU football, Urban Meyer
Aug 07, 2018 - 04:51
This, despite the fact that the Ohio State coach denied knowing anything about it at Big Ten Media Days last week. Meyer fans showed up in force on Monday with signs - many of them misguided - backing their embattled coach.

isis-killer-beheading-video-story-top Malcolm Turnbull: Climate Change Contributes To Drought
Aug 07, 2018 - 04:01
Picture: 9NEWS The rain that did fall, was nothing to farmers, who would need downpours for it to make a difference. Prime Minister Malcolm Turnbull said the Government stood ready to help farmers as drought conditions worsened .

No price hike, but new caps on MoviePass discount tix plan
Aug 07, 2018 - 03:39
MoviePass CEO Mitch Lowe blamed the change on the small number of users who were taking advantage of the "unlimited" promise. The stock rose 3 cents to 10 cents per share in early trading Monday , soaring over 45 percent on the new plan news.

isis-killer-beheading-video-story-top Deputies looking for armed teen who held up boy's lemonade stand
Aug 07, 2018 - 02:12
Fox News reports that the suspect was described as "a black male teen wearing a camouflage hat and black shirt". Authorities believe the guy left a bicycle and walked from there to the lemonade stand .

isis-killer-beheading-video-story-top First look at Margot Robbie in 'Once Upon a Time in Hollywood'
Aug 07, 2018 - 02:04
The two are both struggling to make it in the entertainment industry "at the height of hippie Hollywood", as Tarantino describes. Once Upon a Time in Hollywood will clearly be another bloody Tarantino spectacle - and another featuring an all-star cast.