Arsenal Supporters’ Trust urge shareholders to reject Stan Kroenke’s takeover bid

Arsenal are set to benefit from Stan Kroenke’s disdending coffers as the north London club is looking likely to provide Arsene Wenger a transfer kitty in the region of £45 (Getty Images)

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The Arsenal Supporters’ Trust (AST) has sent a letter to the club’s shareholders imploring them to reject Stan Kroenke’s buyout offer.

The American sports tycoon submitted a proposed offer of £730 million takeover of Arsenal. Kroenke Sports Enterprises already holds a 63 per cent controlling stake in the Gunners, but will need to purchase the remaining 27% owned by Alisher Usmanov and the AST to complete a full takeover.

The AST insists that it is not opposed to Kroenke’s involvement in the club, but does not want to see one person having complete control.

“The AST believes Arsenal is stronger when supporters are represented in its ownership structure,” said the letter addressed to 1,500 shareholders.

“This arrangement means we can ask questions at an AGM and scrutinise at the official report and accounts, something the AST has gained a reputation for doing with clarity and expertise.

“We also think that having supporters involved in the ownership helps to give the club a real sense of ‘belonging’ and acts as a check and reminder to those that run the club that its most important asset is its supporters.

“The AST has established a role as a watchdog of the club and there are numerous example of where we have influenced policy and also ensured that the views of the fans are listened to.”

Shareholders have until May 27 to decide on Kroenke’s offer, which has been welcomed by the Arsenal Independent Supporters’ Association (Aisa), who urged the American to “ take advantage of his opportunity to win over fans”.

Aisa want Kroenke to promise that no debt arising from the purchase of shares will be transferred to the club, and they also called for the Gunners to freeze ticket prices.