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Anorak | Arsenal balls: Alisher Usmanov bids to oust Stan Kroenke and build Chelsea Mark II

Arsenal balls: Alisher Usmanov bids to oust Stan Kroenke and build Chelsea Mark II

by | 19th, May 2017

Into the Anorak inbox is dropped news that Arsenal shareholder Alisher Usmanov has made a $1.3bn bid to buy out his rival shareholder, ‘Silent Stan Kroenke, and take control of the club. In 2013, the Sunday Times Rich List crowned Usmanov Britain’s wealthiest person. The very rich like buying up swatches of London real estate. So why not buy a stadiumand football club ? If the football fails you can always put a roof on the place and use it as a vault.

The FT:

Mr Usmanov, a metals magnate who owns 30 per cent of Arsenal, conveyed the offer in a letter to Stan Kroenke, the US sports mogul, who controls a 67 per cent stake. The approach, made last month, valued the club at $2bn. Mr Kroenke has yet to formally respond.

He is understood not to have dismissed the idea out of hand at first. However, he has since informally indicated he is not interested in selling to Mr Usmanov or anyone else. “Two weeks ago, I thought something could realistically happen. Now I am not so sure,” a person close to the situation said.

Arsenal fans can only marvel at how the club they’ve supported has been transformed into a brand for billionaires to play with.

It might be worth harking back to what Chelsea fans said when another Russian, one Roman Abramovich, bought the club in 2003:

David Mellor. The disgraced former government minister was cautiously optimistic about the new Russian-backed regime. “What I think that we have to hope, as Chelsea fans, is the kind of investment that is being talked of will give Chelsea a good run-out in the Champions League,” Mellor, once the chairman of the Football Task Force, said.

“This is a power-play by an extremely wealthy man and, as far as he is concerned, Chelsea, with their entrance into the Champions League, is a fitting vehicle for his ambitions. If money can buy success, there is a fair chance that Chelsea might achieve.”

Tony Banks, the Labour MP, perhaps taking a lead from Tony Blair, was considering the more global implications of a Russian revolution in the Chelsea Village. “We need to know rather more about Roman Abramovich before saying this is a good deal,” Banks said. “Russia is not settled politically or economically and lots of questions are asked about the rigours applied in Russian business.”

Plus ca change.



Posted: 19th, May 2017 | In: Arsenal, Back pages, Sports Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink