With all the financial issues currently going on around the world — most especially in the States — you’d think Arsenal would shy away from adding an American billionaire to their precious board. But with Uzbek oligarch Alisher Usmanov currently breathing down the neck of the Emirates club, it appears Arsenal are more than happy to take the potential financial security that comes with the appointment.
Arsenal have welcomed American billionaire Stan Kroenke onto their board as a non-executive director as they attempt to stave off a potential takeover from Uzbek oligarch Alisher Usmanov.
The billionaire owner of Kroenke Sports Enterprises holds 12.4% of shares in Arsenal Holdings PLC and his appointment marks a thaw in the relationship between himself and Arsenal chairman Peter Hill-Wood. However, Kroenke has not signed up to the ‘lockdown’ agreement drawn up by board members last year which prevents the trading of shares without the consent of fellow directors. (ESPN Soccernet)
Well Peter Hill-Wood must have had a change of heart! Hill-Wood’s recent icy relationship with Kroenke has been noted for some time now. However, with the clubs livelihood currently in limbo, the Arsenal chairman made an appointment that had to be done. It remains to be seen how the two get along now that they’ll be working in closer quarters, but from the looks of things Arsenal should be able to breath a small sigh of relief.
What do supporters think about the appointment of Kroenke to the board? Do you think he’s enough to keep Usmanov away from the club?