The American’s company, Kroenke Sports and Entertainment, currently owns 67 per cent of the Gunners and has offered to purchase the 30 per cent held by Alisher Usmanov’s Red and White Securities firm.
Kroenke’s company KSE have released a statement, which reads: “KSE UK is pleased to announce the terms of its all-cash offer to acquire the entire issued and to be issued ordinary share capital of Arsenal Holdings PLC other than the Arsenal Shares already held by KSE.
“KSE, a Delaware corporation wholly-owned by Mr E. Stanley Korenke, currently holds 41,743 Arsenal Shares, representing approximately 67.09 per cent of the existing issued share capital of Arsenal.”
A declaration from Kroenke states: “We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.
“We appreciate Mr Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the club represents.”
Arsenal shareholders: Who is Stan Kroenke?
Stanley Kroenke is an American entrepreneur and businessman who owns Kroenke Sports and Entertainment (KSE).
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.
According to Forbes, Kroenke has an estimated net worth of £6.4bn ($8.3bn).
The 71-year-old is married to Ann Walton Kroenke, who is the daughter of Walmart co-founder James Walton.
He is often referred to as ‘Silent Stan’ as he almost never speaks to the press and rarely interferes with his teams’ daily runnings.
Arsenal shareholders: What is Arsenal’s share price?
The club is owned by a holding company, Arsenal Holding plc where available shares are few and the company is not listed on an exchange.
The average price for Arsenal shares traded in the year to March 2017 was just under £15,900.
However, shares smashed £20,000 for the first time in July of last year when four shares were traded.
Speculation also emerged in 2017 that Usmanov was looking to buy Kroenke’s shares with the minority shareholder reportedly offering £22,000 per share.