Source: Telegraph
Arsenal's Stan Kroenke completes £292m St Louis Rams deal
The deal had required the approval of other owners in the National Football League (NFL) as it went against the usual 'cross-ownership' protocol and, at a vote in Atlanta on Wednesday, he received unanimous support. [LNB]It means that Kroenke now has a controlling stake in five different sports teams in the United States and, more significantly, is the only person to own three major American franchises at the same time. [LNB] Related ArticlesWilshere drops back to England U21 squadClough's example demonstrates why Arsenal must buy 'keeperArshavin: 2018 World Cup should be in RussiaSquillaci: I couldn't turn down ArsenalBendtner fury as he sacks key therapistWenger confident of signing SquillaciHe already owns basketball, ice hockey, football and lacrosse teams in Denver, as well as several major entertainment venues, including the Pepsi Center. "Building organisations that win consistently is a challenge that we understand," said Kroenke. [LNB]His investment in the Rams is significant for Arsenal because it is another sign that a takeover is not imminent. [LNB]Kroenke is worth £1.9 billion and so could still afford to buy Arsenal, who are valued at £610 million, but he would be unlikely to make two such huge financial commitments in a short space of time. [LNB]Last year, when Kroenke embarked on a share-buying spree that took his stake in Arsenal to just under 30 per cent, it was widely anticipated that he would launch a full takeover in 2010. [LNB]However, that was based on the expectation that he would sell his 40 per cent stake in the Rams. Instead, rather than accept an offer from American businessman Shahid Khan, he has chosen to buy the remaining 60 per cent. [LNB]The Rams are currently valued at around £490 million and it is understood that Kroenke's buy-out of former partners Chip Rosenbloom and Lucia Rodriguez will involve a staggered payment in two instalments. [LNB]League policy states that no holder of an NFL franchise can own other major sports teams in a different city. [LNB]Operating control of the basketball and ice hockey teams in Denver will now transfer to Josh Kroenke, Stan's son, over the next four years. [LNB]The deal to buy the Rams also maintains Kroenke's record of never having sold a share in any of his sports teams. Although it suggests that he does not have an immediate intention of buying Arsenal, it does clearly suggest a preference for having a controlling stake in his investments. [LNB]Kroenke was invited onto the Arsenal board almost two years ago and, despite his other commitments, has been an active director. He supported the decision to extend the contract of manager Arsène Wenger and has also backed the 'Arsenal Fanshare' scheme which allows supporters to more easily become shareholders. This was significant because a key principle of the shareholder scheme is to maintain plural ownership of the club. [LNB]Arsenal, meanwhile, continue to inch towards confirmation that Sevilla centre-back Sebastien Squillaci has become their third summer signing. [LNB]Mikaël Silvestre, who was released by Arsenal at the end of last season, is ready to join Werder Bremen in Germany's Bundesliga. [LNB]
