Arsenal’s majority shareholder Stan Kroenke is to buy the whole of the club in a deal that values the club at £1.8bn (US$2.33bn).
The American billionaire, who already owns 67% of Arsenal through his company KSE, says taking the club private will help to further Arsenal’s “strategy and ambitions”.
The buy-out announcement was made to the London Stock exchange on Tuesday and it is widely reported this has been accepted.
KSE say taking the club private will help further Arsenal’s “strategy and ambitions”.
Kroenke explained, “We at KSE are moving forward with this Offer leading to 100% ownership of the Club. We appreciate Mr Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the Club represents.”