The Pendleton Panther

New owner for Arsenal?

Posted on: November 4, 2009

arsenal3

Arsenal football club logo

Arsenal football club may have a new owner in the coming months. US billionaire Stan Kroenke has recently bought another 427 shares in the club at a cost of 5.8 million dollars, bringing his total number of shares to 29.6% of the club valuing the club at 870 million dollars. According to club rules once a person reaches 30% stake in the club they need to submit a bid to take full ownership of the club. Mr Kroenke acquired the stock from the estate of the late British industrialist Ernest Harrison. “I do not know what Kroenke will do,” said Arsenal manager Arsene Wenger. “All I know is the rules, that if he gets to 30%, he has to make a bid for the club. At the moment, he flirts with the 30, but is not there. “I do not know what his intentions are; I have not spoken to him about it.

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