American businessman and Arsenal majority shareholder Stan Kroenke has made an ‘all-cash’ offer to buy rival Alisher Usmanov out of the club and take full control of the Gunners.
Through ‘Kroenke Sports Enterprises’, billionaire Kroenke already owns around 67% of Arsenal shares and is looking to buy the 30% stake owned by Usmanov’s ‘Red and White Securities’ that would see him hold over 97% of the total shares in the club.
Usmanov’s stake accounts for 91% of the Gunners not currently owned by Kroenke.
Kroenke will pay just over £29,000 for each share that he buys, valuing the whole club at around £1.8bn. It puts the overall size of his offer to Usmanov at an estimated £540m.
The 71-year-old, who first bought shares in Arsenal in 2007 and has proven to be incredibly unpopular with fans over the years, already owns various sports franchises in the United States, including Los Angeles Rams in the NFL and Denver Nuggets in the NBA.
Kroenke’s personal net wealth is valued at around $8.1bn.
In May 2017, Kroenke rejected a £1bn takeover bid from Usmanov.