Arsenal Supporters’ Trust has criticised Stan Kroenke’s bid to buy the club suggesting it “marks a dreadful day” for the Gunners.

The Supporters’ Trust statement read that “This news marks a dreadful 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.

“The AST is also extremely concerned to note that this purchase is being funded by a loan.

“The most dreadful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans. 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. It is in effect legalised theft to remove shareholder scrutiny on how Arsenal is managed.

“The AST is wholly against this takeover. Arsenal remains too important to be owned by any one person.”

 

Arsenal shareholder Alisher Usmanov insists he will accept bid from rival Stan Kroenke to buy his share at the club work £550m to take full control of the club.

American billionaire Kroenke currently owns 67% of the club through his company KSE and announced on that he has made an offer to buy up the remaining shares.

Usmanov has confirmed that he has as come to an agreement to sell his 30% stake in the club.

“I have decided to sell my shares in Arsenal, which could be the best football club in the world,” he said.

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