Middle East consortium may acquire British football club Arsenal for $2.3 bn: report
04 Mar 2013
A Middle East-based consortium may acquire British football club Arsenal for £1.5 billion ($2.3 billion), the biggest takeover bid in the history of a football club, Sunday Telegraph yesterday reported, citing an unidentified person in the group.
Unidentified funds from Qatar and the United Arab Emirates will offer the money in cash, which would include £830 million for US billionaire owner Stan Kroenke, who holds 66.83 per cent stake in Arsenal.
The consortium would ''transform the club into a major force in European and world football,'' the report said quoting an unnamed source in the consortium.
But Arsenal communications director, Mark Gonnella yesterday said, "Stan Kroenke is committed to Arsenal for the long term and has no intention of selling his stake.
''There has been no contact from any potential investors,'' he added.
Kroenke, whose net worth was estimated to be $4 billion in 2012 by Forbes and who also owns American Football team St Louis Rams, has never sold any of his sports investments till date.