Arsenal fans have acquired a reputation, in some quarters, for being a collection of negative individuals, that think they have a legal right to success. Over recent seasons there have been walkouts, banners, empty seats and protests, to remove the owner and the previous manager, in scenes normally associated with struggling clubs.
Official: Stan Kroenke has completed his compulsory purchase of Arsenal shares, now owning 100%, making the club a privately owned company & de-listing it from the stock exchange. #afc pic.twitter.com/P07kJniNh3
— afcstuff (@afcstuff) September 26, 2018
It’s a relatively small section of fans that know as much about football as I know about the Kardashians and they are probably as bereft of reason as the pouting clan of tanned, designer wearing airheads.
Arsenal fans are currently angry at the Kroenke administration but what a shame they weren’t more vigilant and equally as outraged in 2007. We’ll get to that in a moment.
The sale of Arsenal is a tragic tale of Shakespearean proportions, dealing exclusively in deception and greed. Those involved acted in their own interest and all their words of reassurance and commitment were completely disingenuous.
The main character in this footballing soap opera is the absent owner, Stan Kroenke. The ambitious American, that appears to have no interest in a game where players aren’t dressed like stormtroopers or which isn’t governed by commercial breaks.
Rewind to 2004, the Arsenal side were at the pinnacle of their success, winning the premier league whilst remaining unbeaten and some said that they could rule the division for a decade.
It would take less than 18 months to see that side start to break up and over the next few seasons Arsenal’s ability to compete at the highest level had virtually disappeared.
Then there was the Emirates, a stadium build that was supposed to unlock the gates to the big time and reveal unlimited opportunities. In reality, it only served to strangle the club with debt and signalled the departure of some of Arsenal’s top talent.
So, what happened ? Someone has to be responsible.
Well, yes. There are quite a few but let’s start with someone who regularly dodges the bullets of responsibility for Kroenke’s involvement and the currrent predicament of Arsenal. David Dein. As much as I appreciate what the man achieved with Arsene Wenger, he is the man that sold Arsenal.
— Andy Kelly (@Gooner_AK) October 8, 2016
In 2007, David Dein was ousted for backing Stan Kroenke’s take over bid. A smited boardroom took its revenge and rid itself of one of the most influential figures in football, after an association that lasted 23 years.
Dein owned 14.6% of the shares and had he gone with his initial conviction, that invisible Stan was Arsenal’s saviour, Kroenke would have owned 25% of the club and Dein could have banked around £58 million but he didn’t.
Somehow, David Dein had an overnight revelation, agreed with his former employers and decided that Kroenke’s involvement was ill advised.
So, he reconsidered his options and sold his shares for £75 million to the Uzbek steel magnate, Alisher Usmanov, with an understanding that he would return to his perch in the Arsenal hierarchy once the club was bought outright.
Alisher Usmanov has decided to sell his stake in Arsenal to majority owner, Stan Kroenke. [Sky Sports] pic.twitter.com/Gtz95NBKNd
— AFTV (@AFTVMedia) August 7, 2018
Hypocrisy, greed and power are the labels one could apply to David Dein and all of them would be richly deserved.
His desire to return to Arsenal would never be realised as Usmanov got bored waiting for a seat on the board and having his money tied up in a club where he couldn’t even take a shit without bringing his own toilet paper and asking for permission.
The Arsenal board who sacked Dein for colluding with the American, eventually welcomed Kroenke with open arms, like a long lost son. It was like Narcissus looking in the mirror, kissing his own reflection and paying for the pleasure.
Once Kroenke had his feet under the table, it was just a case of biding his time until everyone’s resolve could be broken and in 2009, Peter Hill-Wood sold 100 shares to the one time villain of the Arsenal panto.
This happened after Hill-Wood said in 2007.
“Call me old-fashioned but we don’t need Kroenke’s money and we don’t want his sort. Our objective is to keep Arsenal English, albeit with a lot of foreign players. I don’t know for certain if Kroenke will mount a hostile takeover for our club but we shall resist it with all our might.”
He went on in almost Churchillian fashion.
“We are all being seduced that the Americans will ride into town with pots of cash for new players. It simply isn’t the case. They only see an opportunity to make money. They know absolutely nothing about our football and we don’t want these types involved.”
Well, how right he was, even though he sold out to temptation in the end, helping to make his prophecy a reality. He also went on record to deny that other members of the Arsenal board would sell to facilitate a takeover.
“The notion that Danny Fiszman is a seller is really farcical. He doesn’t need the money. Nina [Lady Nina Bracewell-Smith, another major shareholder] is also rock solid. She likes the involvement and the tradition that lies behind the club.”
Fiszman did sell his shares to Kroenke in 2009, 5,000 of them worth £8,500 each (£4,250,000) and Bracewell-Smith would eventually follow suit
Hill-Wood was perhaps the worst offender, his Family had connections with the club for a hundred years, his history was entwined with that of the club.
Yet it appeared, he had two versions of the truth, one for each of his faces because he announced a marketing partnership with Kroenke’s Colorado Rapids in February 07 and then realising that the fans might be twitchy by that type of love in, he came out fighting two months later by clumsily saying “We don’t want his sort over here.”.
Kroenke taking full control of the club will destroy us, thanks David Dein for introducing him to the club, thanks Lady Bracewell-Smith for selling him your shares, an thanks Wenger for being his puppet and letting him mug us off for years, how the f**k do we get him out now ?
— MR DT © (@MrDtAFC) August 7, 2018
Undeterred, Kroenke continued to scoop up shares and in 2009 he managed to get a further 200 shares from the estate of Ernest Harrison for £3.6 million. Even dead people have their uses.
Kroenke also picked up another 200 shares from Hill-Wood, who you will remember was adamant that he would not sell his shares to the American under any circumstances, unless he could hardly close the boot of his car because it had so much money in it.
Perhaps the final straw was Kroenke’s acquisition of Lady Nina Bracewell-Smith’s shares. Her decision to sell her Arsenal part to the American created a domino effect among the remaining shareholders and if she felt bad about the situation, she could at least console herself that she had £116m in the bank.
She was viciously removed from the board for an apparent clash with the big cheese of Arsenal, not Peter Hill-Wood but Danny Fiszman, who had an amazing amount of control for such a small holding. Or could it be, as it was reported at the time, that LBS was considering selling to Kroenke’s rival, Alisher Usmanov and the only reason that she didn’t was so that she could take the most lucrative option once a bidding war took place.
Kroenke courted and convinced her, that his money and vision were good for both parties. She didn’t hesitate.
Later in 2018, she talked about her regret at selling to Kroenke and her dislike for the way he runs the club.
This came after she tried to sue Linklaters and the accountancy firm Deloitte for their advice which led to the decision to sell her Arsenal shares to Kroenke.
Yet, the real reason for that action and token remorse, could have something to do with the capital gains tax bill of £10m which she was presented with after the sale. Her relocation to Monaco to avoid further deductions, which cost £1.25m and her legal costs, which amounted to £400,000.
In a spectacular turn around in opinion Bracewell-Smith said,
“Football is a business of passion and SK has no passion for AFC. (Kroenke) shows he cares very little. Why he wanted to be part of AFC I do not know.”(Video) Truth behind Arsenal interest in £40m transfer for 'phenomenal' teenage talent revealed - news t...
Much too little, too late it would seem. She cost the club and the fans something far more precious with her decision to open the door to the American. Her loss just means two less sports cars, one less villa in a secluded location, a smaller bar bill at Ascot and the postponement of the yachts refit.
For the fans, some lost inherited shares from Family members or their only connection to the Arsenal. When Kroenke got rid of Usmanov, it allowed him to buy up those remaining shares of Arsenal, something he was legally entitled to do but it added to the dislike an mistrust of the American.
The AST attended the recent Arsenal Fans’ Forum, which occurs three or four times a season. Along with Arsenal's Managing Directors Raúl and Vinai, there was a surprise appearance from Arsenal director Josh Kroenke, son of Stan. Here’s a few high level key messages from the meet:
— AST (@AST_arsenal) March 16, 2019
A spokesman for the Arsenal supporters trust said at the time
“Many of these fans are AST members and hold their shares not for value as custodians who care for the future of the club. Kroenke’s actions will neuter their voice and involvement. It is in effect legalised theft to remove a brake on how Arsenal is managed. The AST is wholly against this takeover which marks a very sad day for Arsenal Football Club.”
On a more personal note, another Arsenal supporter Malcom Davis said,
“Myself and my brother have been shareholders for over 50 years. I had no intention that the shares should be sold in my lifetime. I left specific instructions in my will that the shares were not to be sold to Kronke. I feel disenfranchised, as if I am no longer part of this club. I have little enthusiasm for this club. Kroenke is only interested in making money, not in winning trophies. I am not interested in supporting a club with no ambition.”
Last season, Arsenal fans rightly aimed the rifle in the direction of Kroenke, the dark lord and former CEO of Arsenal, Ivan Gazidis and then manager, Arsene Wenger but none of them were responsible for the biggest sell out in the history of Arsenal.
Gazidis leaving is the best thing that's happened to Arsenal in recent times. He was simply inept to run this club, which is why he hired the likes of Sanllehi, Mislintat and Fahmy. Contacts were literally the only good thing about him. Wasted the club's resources.
— LTArsenal™️ (@ltarsenal) November 21, 2018(Video) 1V1 WITH THE OWNER OF ARSENAL.. | ROBLOX
We lost our footing, we lost our way and to a degree we lost an identity.
The Arsenal Football Club plc is a 100% owned subsidiary of Arsenal Holdings Limited. Arsenal Holdings Limited is 100% owned by KSE UK INC. KSE UK INC is 100% owned by E. Stanley Kroenke.How much did david Dein sell his shares for? ›
Dein built up his shares until he owned 42% of the club in 1991. Over the next decade, debts incurred forced him to sell just short of a 30% stake to co-director Danny Fiszman for approximately £11m.Who owns Arsenal stadium? ›
Emirates StadiumWho owned arsenal in 2003? ›
With the renewal between Arsenal and Emirates described as "the largest ever signed by the club and one of the biggest ever agreed in football" as per the BBC, the size of the deal was believed to be in excess of £200m.What is Arsenal's real name? ›
Arsenal, in full Arsenal Football Club, byname the Gunners, English professional football (soccer) team based in London.How did David Dein make his money? ›
Dein made his money in sugar trading, and by 1983 was wealthy enough to splash out £290,250 on 16.6% of Arsenal – a total of I believe about 1,200 shares at the time. These shares were authorised but unissued, he didn't buy them from another shareholder.What is the twinning project? ›
What is The Twinning Project? The Twinning Project is a partnership between HM Prison and Probation Service (HMPPS) and professional football clubs with the objective of twinning every prison in England and Wales with a local professional football club.Who introduced Kroenke to Arsenal? ›
Stan Kroenke was introduced to Arsenal by David Dien, who believed that the club "needed a Billionaire" to help propel the club forward (demonstrating the accurate foresight which was one of a few key components of Dein/Wengers' earlier success).How much do Arsenal still owe on their stadium? ›
The Kroenkes' financial support to Arsenal has come in the form of loans. The upshot here is that KSE's support has allowed Arsenal to drop their “external” debt from around £180 million to £16.3 million. Instead, they now have a £201.5 million debt to parent company KSE UK.
Arsenal is owned solely by Kroenke's firm Kroenke Sports & Entertainment (KSE) - a Denver-based sports and entertainment holding company which he founded in 1999.Is Arsenal owned by China? ›
It is owned by a parent company, Arsenal Holdings plc, which has relatively few shares which are infrequently traded. Historically, the club has been owned by descendants of the Bracewell-Smith and Hill-Wood families.How much did Arsenal's Invincibles cost? ›
2001-02. This was a summer of unbelievable bargains for Arsene Wenger. In what is perhaps the greatest financial coup in the history of football, Arsenal picked up the two impregnable center-backs that would lead them to an undefeated season for a total of £150,000.What was Arsenal's biggest loss? ›
|1||Aug 28, 2011||8:2|
|2||Sep 12, 1953||7:1|
|3||Mar 22, 2014||6:0|
|4||Nov 5, 1960||6:0|
Nike's long association with Arsenal then came to an end in 2014, with Puma taking on the duty of designing kits for the north London club.Who has the biggest sponsorship deal in Premier League? ›
|Characteristic||Annual revenue in million GBP|
|Manchester City (Etihad)||67.5|
|Liverpool (Standard Chartered)||50|
|Manchester United (TeamViewer)||47.5|
We made the decision not to renew our Arsenal partnership to enable greater focus on our existing sponsorships such as The O2, O2 Academy venues and England Rugby.” An Arsenal Football Club spokesman said: “After ten successful years with O2, we have reached a mutual decision not to renew our partnership.Is Arsenal owner a billionaire? ›
Enos Stanley Kroenke (/ˈkrɒŋki/; born July 29, 1947) is an American billionaire businessman.Which is the oldest club in England? ›
Sheffield F.C. in England, is the world's oldest surviving independent open football club; that is, the oldest club not associated with an institution such as a school, hospital or university in which was open to all to play. It was founded in 1857. Sheffield F.C.Who is the oldest football club in the world? ›
- 1857 The world's first football team. Sheffield Football Club is founded on October 24th, by the pioneers, Nathaniel Creswick and William Prest.
- 1859 'Mob football' Starting with the foundation of the club in 1857, the club's committee studies the various rules.
- 1860 First inter-club game.
Arsenal fans often refer to themselves as "Gooners", the name derived from the team's nickname, "The Gunners".Who is Darren Dein? ›
But who is Darren Dein? Son of David Yoursformer owner of Arsenal and ambassador of the Premier and of the FAis a lawyer who started working in the world of football with Jerome Andersonthe owner of the company Sports Enterteinment & Media Group.Is twinning program good? ›
Indian students enrolling in twinning programmes can enjoy a host of advantages that will ultimately help them to realise their study-abroad dreams smoothly. Here are some of the key advantages: The overall tuition cost of studying abroad will be reduced significantly and will be in tune with Indian standards.What does it mean to be twinned? ›
1. born as a twin or twins. 2. paired or coupled.What is the twinning argument? ›
The view that human beings begin to exist at fertilization (namely conceptionism) faces a serious challenge from the twinning argument, that identical twins coming from the same zygote must be numerically distinct from the zygote and so did not exist at fertilization.How does Kroenke make money? ›
Real Time Net Worth
Reflects change since 5 pm ET of prior trading day. Stan Kroenke is a real estate and sports mogul with an international portfolio. He owns some 60 million square feet of real estate -- much of it shopping plazas near Walmart stores.
Whilst the Kroenke's resisted that £1.8billion offer and look set to maintain the same stance, they could have another takeover proposal to consider in the near future.Will Kroenke ever sell Arsenal? ›
"We remain 100 percent committed to Arsenal and are not selling any stake in the club. "We have not received any offer and we will not entertain any offer.What club is most in debt? ›
Figures via Deloitte.
Chelsea's £1.6 billion debt to sanctioned owner Roman Abramovich is becoming a concern as Todd Boehly's consortium attempts to finalise a deal to acquire the club this week.
Chelsea's new owners are raising roughly UK£800 million (US$957 million) of debt as they bid to reshape the running of the English soccer giants, according to the Financial Times (FT).Which Premier League club is owned by Chinese? ›
Chinese holding company Fosun International bought Wolves in July 2016 from previous owner Steve Morgan for around £45m. Headquartered in Shanghai and Hong Kong, they have a presence in 16 countries and are estimated to be worth around $9.14bn (£6.72bn).Is Chelsea's owner Russian? ›
Among soccer fans, Roman Abramovich is a household name. As the longtime owner of the English Premier League's Chelsea Football Club, the 55-year-old Russian businessman has transformed the association into a global powerhouse.Is Everton owner Russian? ›
He is the chairman and a shareholder of USM, a diversified Russian holding company with significant interests across the metals and mining, telecoms, technology and internet sectors. Moshiri is also the majority owner of Premier League football club Everton.What does China own in England? ›
It reveals that Chinese investors own nearly £57bn of shares in the UK's 100 biggest listed companies, dominated by a 49 per cent stake in HSBC worth £45bn. Investments valued at over £1bn have also been made in pharmaceutical giant AstraZeneca, oil and gas firms Shell and BP and alcohol company Diageo.Which football team is owned by UAE? ›
The primary interest of the group is its 75.1% majority ownership of City Football Group, a worldwide organisation most notably controlling Manchester City F.C., Mumbai City FC, Melbourne City FC and New York City FC, as well as several other international football clubs.Does KSI own a box at Arsenal? ›
LOGAN PAUL revealed KSI has a punch machine in his Arsenal suite - at least he did until his security BROKE it. KSI - real name Olajide Olayinka Williams Olatunji - is a massive Gooner and as a result appears to have a box at the Emirates.What is Arsenal's longest unbeaten run? ›
1. Arsenal – 49. Arsenal still holds the record for the longest unbeaten run in the history of the Premier League. Between a period starting from 07 May 2003 to 16 October 2004, the London-based club went without a defeat in 49 fixtures under Arsene Wenger's brilliant leadership.How much profit does Arsenal make a year? ›
Revenue of Arsenal from 2013/14 to 2020/21 (in million euros)
|Year||Revenue in million euros|
Midpoint enterprise value of Arsenal FC from 2016 to 2022 (in million euros)
|Characteristic||Enterprise value in million euros|
Arsenal have also defeated Manchester United in league competition on 71 occasions, which represents the most Manchester United have lost against any club.Who is Arsenal's biggest rival? ›
The North London derby is the meeting of the association football clubs Arsenal F.C. and Tottenham Hotspur F.C., both of which are based in North London, England. Fans of both clubs consider the other to be their main rivals, and the derby is considered by many to be one of the fiercest derbies in the world.Who has beaten Chelsea the most? ›
The side has lost more league games to Liverpool than to any other club, having been defeated by them 70 times in 156 encounters.How long is Arsenal's deal with Adidas? ›
The current agreement between Adidas and Arsenal was supposed to expire in the 2023-24 session. However, Arsenal has confirmed that the deal has been extended for six years until 2030. Adidas will continue to supply kits for the English football club Arsenal till 2030.How long will Adidas sponsor Arsenal? ›
German sportswear manufacturer Adidas has extended its kit supplier deal with English Premier League football club Arsenal. Adidas has supplied Arsenal's kit since the start of the 2019-20 season and the new deal will run until 2030.Did Chelsea lose their sponsor? ›
Chelsea shirt sponsor Three suspends deal with club following Abramovich sanctions. Chelsea will play without a shirt sponsor after Three announced they are suspending their £40 million-a-year deal ($52.4 million) with immediate effect.Are arsenals owners Russian? ›
The Russian billionaire was a shareholder until 2018, when he sold up to Stan Kroenke, making the American billionaire the majority shareholder. And when he sold his shares, Usmanov made reference to Arsenal's future under Kroenke.What nationality is Arsenal? ›
Arsenal Football Club, commonly referred to as Arsenal, is a professional football club based in Islington, London, England.Has Arsenal owned Russian? ›
Usmanov was a shareholder of the English football team Arsenal from 2007 to 2018. He moved into the football arena in August 2007 by acquiring a 14.58% stake in Arsenal. He and his business partner Farhad Moshiri bought the stake in the club owned by former Arsenal vice-chairman David Dein for £75 million.
On March 10th, the fifteenth day of the war in Ukraine, the British government imposed sanctions on Roman Abramovich, the Russian owner of Chelsea Football Club, the reigning European and world champions of the club game.
noun. /ˈaːsənl/ a factory or store for weapons, ammunition etc. das Waffenarsenal; das Waffenlager.How many properties in London are owned by Russians? ›
Transparency International estimate that 100 London properties, worth £1.1 billion are owned by Russians accused of corruption or links to the Kremlin.Does Russia still own half of Germany? ›
The piece of land known as Kaliningrad Oblast is a disconnected area from Russia that the country still owns. It formerly belonged to the Germans and was known as Konigsberg until it was taken over by Soviet forces in 1945 during World War II.Which football team is owned by Saudi? ›
Al Hilal Saudi Football Club (Arabic: نادي الهلال السعودي), simply known as Al Hilal, is a professional multi-sports club based in Riyadh, Saudi Arabia. Their football team competes in the Saudi Professional League. They are the most decorated club in Asia winning 65 official trophies.