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.
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.