Kroenke set for full Arsenal ownership

Anti-semitism in Labour

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents", he said.

Dangote has never hidden his desire to own the Premier League club which he supports.

Last October, KSE offered around £525m to buy the 18,695 shares held by Usmanov, the Russian businessman who himself attempted to buy out Kroenke in May 2017.

However, according to reports, American majority shareholder Stan Kroenke has had his offer to buy the rest of Arsenal accepted in a deal worth around $2.3 billion (£1.78 billion).

The Russian made a bid to buy-out Kroenke a year ago but it failed and, with his business partner Farhad Moshiri owning Everton, Usmanov could invest the money he is set to receive from KSE into the Toffees and be made to feel much more welcome.

But the AST is unconvinced and said in a statement: "This news marks a terrible day for Arsenal Football Club".

The Arsenal Supporters' Trust (AST) has already formally criticized Kroenke's acquisition, saying it's "a awful day for Arsenal football club".

The deal ends a standoff between the two tycoons, who had both battled for control, but it has angered the small group of well-connected independent shareholders who see themselves as guardians of the 132-year-old club.

Labour leader and Arsenal fan Jeremy Corbyn has backed the club's Supporters Trust in their opposition to Stan Kroenke's full takeover of the Gunners.

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The motion, proposed by Brian Sedgemore MP, read: 'This House believes that Arsenal is the best club football team in the world at the moment and admires them for the fluency and poetry that they have brought to the handsome game'.

"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".

In a statement published on the London Stock Exchange yesterday morning, Kroenke said: 'We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.

The deal comes at a crucial time for the club, which embarks on life without long-time manager Arsene Wenger, who stepped down in April after 22 years in charge.

With Kroenke looking to take complete control of the club, then, surely big money deals and high profile arrivals will become commonplace once again? They also stated that by becoming the 100% owner, Kroenke could, if so desired, take "detrimental actions" such as paying "management fees and dividends without any check or balance".

"The AST is also extremely concerned to note that this purchase is being funded by a loan", it added.

They have not won the title since 2004 and last season finished sixth, 37 points behind champions Manchester City.

Wright also said the situation puts more pressure on new head coach Unai Emery to deliver success on the pitch, as the club isn't doing enough on the transfer market to strengthen the team.

Usmanov's holding company USM is already a major sponsor of the Goodison Park club, which is owned by his former business partner Farhad Moshiri.

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