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:
The offer was triggered by an agreement between Kroenke’s company, KSE, and DF Nominees (the company holding Danny Fiszman’s interests in Arsenal Shares) whereby KSE will have the right to buy DF Nominee’s 16.11% stake within 20 days of Fiszman’s death. Along with KSE’s 29.9% holding, that agreement effectively gave the US group control of more than 30% of Arsenal shares – which means it is compelled to make an offer to all Arsenal shareholders under the Takeover Code (Rule 9). Separately, KSE has agreed to acquire Lady Nina Bracewell-Smith 16.79% stake, plus smaller shareholdings of Arsenal directors. In total KSE now speaks for 62.89% of Arsenal shares.
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.
WG
Arsenal.com
what does this ‘Put & Call’ option regarding Danny Fiszman mean?
In essence, Kroenke and Fiszman entered into an agreement that should Fiszman’s illness become terminal, Kroenke would purchase Fiszman’s shares at the Market price (less concessions agreed between the parties) to ensure that Fiszman’s family’s trust fund would be of sufficient standing to support them.
Sadly this is transaction is an indicator that Danny Fiszman is terminally ill and may not have long (less than 20 days) to live.
It put Kroenke above 30% so he was forced to put an official offer out to all shareholders and Lady Nina Bracewell Smith has taken him up on his offer taking his shareholding to 62% (with some other minor shareholders also taking up his offer).
I hope that helps.
WG