Kroenke set for full ownership of Arsenal after Usmanov deal

Kroenke set to take full control of Arsenal FC in bid valuing club at £1.8bn

Here's a brief look at the history of Kroenke's takeover battle and what the future might hold for the club.

Usmanov, despite being the second-largest shareholder, has not been given a seat on the club's board.

The deal values Arsenal's issued share capital at around £1.8bn, according to a statement.

Kroenke, a majority shareholder with 67 per cent, submitted an offer to acquire Alisher Usmanov's 30 per cent with a view to a full takeover of the club.

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the Club represents", said Mr Kroenke in his company's stock exchange statement.

Wright wrote: "Incredibly sad day for so many of our fan shareholders that that no longer own a part of this club Imagine if this wasn't only about but about the club, the community & the fans - all this new enthusiasm we are witnessing with Unai wouldn't feel like such a waste".

The deal comes at a crucial time for the north London club as it embarks on life without long-time manager Arsene Wenger who stood down in April after 22 years in charge.

Kroncke has had a fraught relationship with Arsenal fans but insists his ambition is to see the club "competing consistently to win the Premier League and the Champions League", a tall order in the short term at least.

What has led to Arsenal being owned exclusively by Stan Kroenke?

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Mr Kroenke, through his wholly-owned Kroenke Sports & Entertainment, now holds a 67% stake in the London club.

"Kroenke's actions will neuter their voice and involvement".

"The AST is extremely concerned to note that this purchase is being funded by a loan".

In a statement from Red and White Holdings Limited, the businessmen confirmed his decision to sell his stake and took a sly dig by claiming that Arsenal "could be the best football club in the world".

But what does that mean, and how did we get to this point?

Not particularly, Kroenke is a far from popular figure at Arsenal.

Billionaire Stan Kroenke's deal to take Arsenal private has been criticised by the supporters' trust as a "dreadful" day for the English Premier League club. It's like you or I buying a house, taking out a mortgage, if you maintain those payments against those loans or however you borrowed then it is not a problem.

The American, who made a $2 billion bid to buy the club past year, will raise the capital with $58 million (£45m) of his own money and $721 million (£557m) in loans which, he says, will not be against the club.

What is Arsenal's share price?

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