Kroenke – my 2p’s worthon April 11, 2011 at 10:36 am
Silent Stan Kroenke is a proven business man who is completely self-made. Whilst he has a rather impressively rich wife, his fortune is his own and he is worth over 2bn US Dollars.
He has an excellent track record in sports investment with his full ownership of Colorado Avalanche (NHL) team, the Denver Nuggets (NBA) team, the Colorado Rapids (MLS) and the St Louis Rams (NFL) team.
However, due to sanctions in place agreed during his purchase of the St Louis Rams he has agreed to give up majority stake in the Avalanche and the Nuggets.
Importantly, the investment in the Colorado Rapids has shown his interest in football and he has invested in that team, improved them significantly (in terms of playing personnel, marketing and sponsorship) and was strongly involved in creating the partnership between Arsenal and the Colorado Rapids which often sees a share of information on coaching methods, friendly games and soon to be money-spinning pre-season tours (a guess, but I can see it coming).
First and foremost Kroenke is a sports fan, I don’t know how strong his love for the game of football is, but he’s got a proven track record as a excellent team owner and there are plenty of people who testify to his leadership skills.
For us, it represents a new era. I have no doubt Kroenke will want success, he will want trophies. He’s put a backroom staff in that he wanted, Gazidis, the commercial marketing team he felt he needed and now is the time for him to step up and take over fully.
Its not a surprise, it was always going to happen, Arsenal FC could not stand forever in the way it has been because shares are able to be traded and at some point people choose to sell.
Personally, I think its been sold to the right guy, but time will tell.
UPDATE From the Guardian:
KSE now has four weeks to launch its offer to other Arsenal shareholders – which will involve it sending out formal documents to shareholders. This offer must stay open for a minimum of 21 days, but can run for three months.