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Middle-East consortium bids for Arsenal

Nishit Nakar
1.38K   //    03 Mar 2013, 13:02 IST
It's time to make a decision...Stan Kroenke

It’s time to make a decision…Stan Kroenke

According to reports in English media, a mindboggling £1.5billion bid for Arsenal has been put on the table by an influential Middle East investment group.

The consortium — which comprises of investors from Arab Countries like Qatar and the United Arab Emirates — have been pushing on the deal for the last four months with Arsenal board.

They will go ahead with their big money move to Arsenal’s majority shareholder Stan Kroenke in the coming few weeks with sole aim to take Arsenal to the top of world football. The consortium will offer Kroenke £20,000 per share for his 66.64 per cent stake in the Arsenal.

That would give the American a net of £830 million — which accounts to profit of around £350 m.

If Kroenke accepts the deal, the same offer of the deal will be made to the other major shareholder, Alisher Usmanov, who has 29.11 per cent.

However, the group wants a total takeover of all the shares — although they have no issues working with Usmanov if he decides not to sell.

They also want to clear the club’s debts of £250m, in addition to having separate funds for transfers and also to stop the selling of their star players.

In a chat with SunSport, a source told:“These are serious investors with serious money. They are not messing about.

“Kroenke must realise it is time to get out.”

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