Arsenal majority shareholder Stan Kroenke says his shares in the club “are not and never have been for sale”.
KSE UK – The holding company for the American’s interest in Arsenal, issued a statement to the London Stock Exchange on Monday following media speculation concerning its commitment to the Premier League club, who have missed out on the top four of the Premier League for the first time in 20 years.
The Russian businessman Alisher Usmanov, who owns 30% of the club, made a formal £1bn bid to buy Arsenal, but Kroenke has no intention of relinquishing any of his 67% holding.
A statement to the London Stock Exchange read: “KSE UK, Inc notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms its shares are not, and never have been, for sale. KSE is a committed, long term investor in Arsenal and will remain so.”
Kroenke has a 67% stake in Arsenal. Usmanov owns 30% but is not part of the board or decision-making at the club.
The Uzbek-born Russian said in April that Stan Kroenke must “bear huge responsibility” for the club’s failures on the pitch.