Home English Premier League Kroenke Outsmarts Dangote In Arsenal Take Over Plot

Kroenke Outsmarts Dangote In Arsenal Take Over Plot

Africa’s richest man, Aliko Dangote’s bid to buy Arsenal appears to have hit the cul-de-sac the shares to majority shareholder, Stan Kroenke has offered to buy over the club in a deal valued at £550m.

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Kroenke had on Monday approached the Russian billionaire, Alisher Usmanov to sell his 30 per cent shares to enable him full ownership of the club and Usmanov agreed as political tension between Russia and UK continues to heighten.

Dangote had in an interview with the influential Financial Times last month, reiterating his secret love for the club and his desire to buy the club when he musters sufficient financial power to purchase the London based club.

He planned to begin the process of buying the club when he completes his new mega oil refinery that will produce 650,000 barrels daily as from 2020 but Kroenke’s swift manoeuvre to move for an outright purchase now has put the Nigerian industrialist’s ambition in abeyance.

Sources close to Usmanov, who has previously tried to buy Arsenal from Kroenke, said he has decided to pursue other opportunities because of the US mogul’s refusal to sell the club.

Usmanov in a statement said, “I have decided to sell my shares in Arsenal Football Club which could be the best football club in the world.

“I wish all the best and great success to this wonderful football club and to all those lives and careers that are entwined in it.”

Usmanov security firm also confirmed the sales of the Uzbekistan born shares in a statement also.

“We confirm that Mr Alisher Usmanov has given an irrevocable undertaking to KSE to accept the offer in respect of Red and White Securities’ entire holding of 18,695 Arsenal shares (representing approximately 30.05 per cent) for an agreed price of £29,419.64 per share in cash valuing Red and White Securities’ stake at just over £550m.”

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