Arsenal have become the 10th Premier League club to be taken over by a foreign company after American Stan Kroenke gained control of 62 per cent of the club. Of the 20 clubs in the top flight, twelve have international majority shareholders.
It is not yet understood how Mr Kroenke will pay for his stake, either as a risk-free cash buy or from serviced loans, but it his addition of shares from his previously owned 30 percent stake is set to cost hundreds of millions of dollars, with Arsenal now priced at $1.2bn.
The US tycoon has also tabled a bid for fellow share-owner Alisher Usmanov's 27 percent of share, that could result in Groenke holding 89 per cent of the club. More...
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