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SOURCE REPORT: Kroenke Set For Arsenal Takeover In The Summer Following L-Nina's Departure

In Arsenal FC, Exclusives on December 18, 2008 by Highbury N5 Editor Tagged:

Morning readers; settle down for the long one!

Late on Wednesday evening news of a board ‘re-shuffle’ emerged with two long time members of the club leaving, one being a major shareholder of the club and thus, now making this member immune to the ‘lockdown agreement’ created to stave off takeover interest.

At this point I’ll try and make things simpler as its all rather complicated;

There are two bits;

  • Arsenal Holdings Plc (The Company)
  • Arsenal Football Club Plc (The Club)

Richard Carr announced his resignation from the Board of the Company having served as a director for twenty seven years. Richard will, however, remain a director of the club.

Peter Hill-Wood has commented on Carr’s resignation and his work as a director of the club,

“Richard Carr has been on the Board for 27 years. He has decided to step down from the Holding company Board but he is going to stay on the Football Club Board where he has been responsible for the Academy and Youth Development department. He has done a first-rate job there and we are very pleased he is going to continue to do that.”

There is an eery feeling around now, i understand arguments broke out at a meeting last Thursday, I’ll go into this more later but it remains possible that there was a disagreement over transfer strategy and possibly a takeover by Stan Kroenke.

The second, and most important departure is that of Lady Nina Bracewell-Smith, who’s family has been involved in the club for 70 years and she holds 15.9% of the club, the third biggest shareholder.

Hill-Wood said of her departure,

“Lady Nina has left the Board and we wish her well for the future.”

Now, compare that wording to the one of Richard Carr. Is that really how you talk about someone who has had links to the club in their family for 70 years?

No, that’s because she has seriously pissed them off.

Kroenke Takeover

A source with big Arsenal knowledge in the financial world has spoken and said that Stan Kroenke as in effect, already taken over Arsenal.

Its expected that Usmanov, who has lost a hell of a lot of his money in Russia is going to sell to Kroenke in the summer, hence the reason that we have money to spend in the January transfer window

When Hill-Wood invited Stan Kroenke on to the board it was effectively the start of the transition process according to the source. Usmanov apparently had discussions with Abu Dhabi for a sale before they bought City.

But, Stan Kroenke then said he wanted to buy as well so they backed off hence David Dein resigning from red and White Holdings. Then Stan Kroenke was reportedly introduced to the Arsenal Supporters Trust last week.

The strength of the Dollar over Sterling at the current time also seems to be a major factor in the Kroenke takeover according to my source.

Fiszman will probably leave in 2009/2010, with David Dein re-joining in the role of Director of Football.

It came to light to this source as soon as Glazidis was appointed last month, its common knowledge that Danny Fiszman and Lady Nina Bracewell-Smith have wanted out of the club and are wanting to sell, Glazidis is believed not be ‘third party’ but to have been earmarked by Stan Kroenke for the role and it makes sense that his appointment is before January, when the club has money to spend and Glazidis’ strengths are in the transfer markets and dealing with the financial side of things.

Its apparent that the Guardians analysis of the happenings are far from accurate.

This is mooted to be a peaceful takeover with the blessing of the board, and the manager. Kroenke was invited onto the Arsenal board, and as i have already said, that was the first phase of the takeover.

My opinion on this is that it could well be a clean slate for the club that has been riddled with dodgy deals behind the scenes for years, Kroenke is a business man that is in it for the money but so are all the shareholders! Its a way of legally evading tax, the shareholders have not accepted dividends but that just saves tax.

The source went on to say that the shareholders are salaried employees of the club, a way of taking dividends under the radar. So often it is said that Arsenal have the second highest wage bill in the Premiership but that is including all staff at the club, including the shareholders.

These shareholders have not done any work for a hell of a long time, is it starting to become clearer?

I’ll add again, Usmanov is only interested in selling his shares worth over 100 million, he can’t afford to invest anymore due to his financial losses from the Russian Stock Market.

Maybe just maybe we could be moving into an era of spending and success at Arsenal Football Club, lets see how it unfolds in the next year.

What are your thoughts on this?

Can i please state that i have not by any means made this up, i have taken this information from a source who is in the financial world and has lots of knowledge about the Club. I would not stir things.

This is by no means fact, but it is a very real possibility

Right any questions fire away and i will do my best to answer them,

Til next time Gooners.

May i point you to the legal status of my writing and copying of my articles in my ‘about me’ section.

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11 Responses to “SOURCE REPORT: Kroenke Set For Arsenal Takeover In The Summer Following L-Nina's Departure”

  1. i can';t say i know anything really about arsenal behind the scenes but you seem very well thought out.

    if it’s true i just hope the club gets run well, that’s all i care about.

  2. Hmm… Very interesting piece of information, finally the pieces of the jigsaw are falling in place.

  3. I agree with stu when he says, “I hope the club runs well and thats all I care about”.

    Great post though mate.

  4. Excellent post – I’ve been sifting through loads of “same old, same old” articles about this and this one rings true enough. I agree with Stu too – it seems positive…

    One other thing…Lady Nina….from what you have said, she wanted out and she has only left the board because of this and this is what pissed HillWood off, according to your source?

    Also, the club and the company – how odes sharholding of the compnay effect that off the club?

    I’m guessing Kroenke is after the club only?

    Cheers, excellent post.

    Mischa

  5. PS. I love the snow! ;-)

  6. Mischa – as i understand it L Nina and Fiszman have wanted out for quite a while now, i think the meeting last week has probably put the icing on the cake and she has decided she wants out, Kroenke will give her big money for her shares, Usmanov is no longer interested because he has lost an awful lot of money recently and will probably sell to Kroenke in the summer.

    To the best of my knowledge (this in by no means correct), the shares are in the club, not the company. I think the company was set up for the outside work and dealings as it were such as the Highbury redevelopment.

    Yes, im pretty sure he is.

    Hope this helps!

  7. [...] SOURCE REPORT: Kroenke Set For Arsenal Takeover In The Summer Following L-Nina’s Departure Morning readers; settle down for the long one! Late on Wednesday evening news of a board ‘re-shuffle’ [...] [...]

  8. [...] week The Goon broke exclusive news of Stan Kroenke’s plan to take over Arsenal. Today it has emerged that Alisher Usmanov, the [...]

  9. [...] may remember in December of last year i made contact with a source that gave me information towards a takeover by…, possibly being in the summer of this year. Weeks later, Lady Nina left. Now there has been another [...]

  10. [...] Not really going to go into the details of it as there really is not much point but I will again point you to an exclusive I published months back where a source pointed out to me that Kroenke will… [...]

  11. [...] to foreign ownership, the all important owner being American sports investor Stanley Kroenke, I have written about this before and about eight months ago broke a story about how the takeover is …, with the demise of the financial markets there is a chance it could take slightly longer, [...]

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