Stan Kroenke seeking full ownership

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The American, who owns 67 per cent of the club, has put forward a deal - published via the London Stock Exhange - that will see him buy the remainder of the club's shares.

Stan Kroenke has launched a £1.8billion to take complete control at Arsenal.

And the Arsenal Supporters' Trust has voiced several concerns over the potential takeover in a strongly-worded statement of their own.

The American billionaire owns 67% of Arsenal through his company KSE, which says Alisher Usmanov has agreed to sell his 30% stake in the club.

Under takeover rules, if Usmanov accepts the offer it would trigger the sale of the remaining minority shareholders' shares - many have preserved a small holding for decades - and place the club under the private control of Kroenke.

In October, Kroenke Sports Enterprise UK (KSE) offered around £525m to buy the 18,695 shares held by Mr Usmanov's Red and White Securities Limited.

The main Arsenal fan group said Kroenke mounting full control "marks a awful day" for the club, which is preparing for its first season with Unai Emery as coach after Arsene Wenger's 22-year reign ended. Kroenke and Usmanov have since been locked in stalemate.

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KSE added in a statement: "KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions".

"KSE, a DE corporation wholly-owned by Mr E. Stanley Korenke, now holds 41,743 Arsenal Shares, representing approximately 67.09 per cent of the existing issued share capital of Arsenal". "We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents". Many of these fans are AST members and hold their shares not for value but as custodians who care for the future of the club, " the trust said in a statement.

"Kroenke's actions will neuter their voice and involvement". It is in effect legalised theft to remove shareholder scrutiny on how Arsenal is managed.

Kroenke, who is worth an estimated $8.3 billion according to Forbes, made money in real estate before becoming a sports mogul in the US.

Kroenke, 71, has a fortune valued at $8.3 billion by Forbes, and has a portfolio of assets that includes National Football League franchise the Los Angeles Rams, NBA club the Denver Nuggets, NHL team Colorado Avalanche, and MLS club Colorado Rapids. He began building his stake in Arsenal in 2007 after buying a 9.9% holding from ITV.

New manager Unai Emery, who joined from Paris St Germain, will be given a baptism of fire this weekend when Arsenal kick off their new season against Manchester City.

The bid will be part funded by a 557 million pound loan from Deutsche Bank.

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