Kroenke Sports Entertainment, formerly Kroenke Sports Enterprises, aka KSE, has bought 43 more shares in Arsenal, taking the Kroenke total to 41,639 out of the 62,219 there are altogether.
The announcement was only made on October 3rd though, after Arsenal had done their regular weekly update on the website (apparently) confirming that neither KSE nor Red & White had bought any shares this week. So it seems Stan didn’t bother to tell anyone at Arsenal the transaction had gone through until today. But I’m sure he and young Josh are both working very closely with the rest of the Arsenal Board at all times . . .
Here’s a quick Q&A:
Does this purchase change the dynamic with Usmanov?
No. Usmanov (R&W) has just over 30%. Unless he wants to sell then there’s no difference in his relationship with Kroenke. Usmanov can still block certain changes to the club constitution for example, as he has over 25%. If Usmanov ever decides to sell to Kroenke, or vice versa, then whoever buys has all the power, not just most of it as Kroenke has now.
What does Kroenke want more shares for?
The obvious answer is to get rid of more small shareholders, who are an irritant to him. They have to be invited to AGMs. Usmanov was hoovering up all the small shareholders for him in order to get to 30%, but since he’s stopped maybe Stan will start again. There’s no financial benefit for Kroenke though. It won’t make the share price higher or Arsenal worth more, or give him any more rights than he’s got now.
Who did Kroenke buy these 43 shares from?
I don’t know, but there are only about 4 people other than KSE, R&W and Fanshare who currently have (or had) more than 40 shares, so the options are limited. Two are brothers who have 80 each, one is a little old lady with 115. Another individual has (or possibly had) 40.
I’m bored with shares, what does all this matter to the team?
The best ownership model for football clubs – that’s clubs – is to have fans involved. If you don’t believe that then kindly remove yourself from here and do not bother returning. I’ve written several times on why this ownership model is best.,so I won’t go into it all again, but surely you can at least see that money raised from supporters should not be siphoned off by an owner who has not invested a penny into the club itself, all he has done is buy shares from other people? He has now started taking money out. He is reducing the number of small shareholders, thereby reducing the accountability. If you don’t think this kind of thing is important then I envy you and your simple life. Enjoy it. It must be great not to realise that you don’t understand things.
If you (not the people bored with shares, the other people) have any more questions let me know in the comments or on Twitter: @AngryOfN5