Kroenke on the brink of full Arsenal takeover

United manager Jose Mourinho entering his third season at Old Trafford has looked like a Bassett Hound for most of the summer predicting a

United manager Jose Mourinho entering his third season at Old Trafford has looked like a Bassett Hound for most of the summer predicting a"difficult season for a team which finished second in May

Arsenal's majority shareholder Stan Kroenke is set to take complete control of the club after Alisher Usmanov accepted an offer for his stake.

Labour leader Jeremy Corbyn has hit out at American billionaire Stan Kroenke's plans to take full ownership of Arsenal FC, and declared his solidarity with the Arsenal Supporters Trust's bid to thwart the proposals.

Kroenke made a cash bid worth more than £550m to buy Usmanov's 30 per cent stake of the club to take full ownership, receiving an "irrevocable undertaking" from the Russian's security firm to accept the offer as soon as possible.

The KSE statement to the London Stock Exchange said taking the club private will help to further Arsenal's "strategy and ambitions".

"I have chose to sell my shares in Arsenal, which could be the best football club in the world", he said.

"The AST is wholly against this takeover". The owner of Kroenke Sports & Entertainment (KSE) had a 67 percent ownership of Arsenal's shares.

AST added that by becoming the 100% owner, Kroenke would be able to take "detrimental actions" such as paying "management fees and dividends without any check or balance". And former Arsenal star Ian Wright told ESPN it will be "absolutely disastrous" if Kroenke obtains full control of the team, mainly because, according to Mattias Kare, he believes the Rams owner "cares more about money than winning trophies".

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

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In October past year, KSE offered around £525mn (B22.580bn) to buy the 18,695 shares held by Usmanov, the Russian businessman who himself attempted to buy out Kroenke in May 2017.

Wright said he is anxious that American billionaire Kroenke cares more about money than winning trophies, and that Arsenal will no longer be able to compete for top trophies with him running 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.

The key point there really is that the takeover would be funded by a loan - which is a dreaded four letter word for some of the world's biggest football clubs these days.

'The successful implementation of the offer will result in the opening of a new chapter in the history of the club in bringing 100 per cent private ownership by KSE.

Within two hours of the announcement '#KroenkeOut' was trending on Twitter in Britain.

The Gunners get their Premier League campaign underway on Sunday as they host champions Manchester City at the Emirates Stadium.

'It is concerning that if this deal goes ahead there could be no Independent Directors on the Arsenal board, and so we appeal to Stan Kroenke to ensure that fans will have a say in how the club operates going forward.

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