‘Business as usual’ as Kroenke ups stake

CHIEF EXECUTIVE Ivan Gazidis maintains it is “business as usual” at Arsenal after American tycoon Stan Kroenke paid out some €45.85m to increase his stake in the Premier League club.

Kroenke, 61, accepted the offer to become a non-executive director in September last year as ties with his Kroenke Sports Enterprises group were strengthened, after the Gunners had at first been less than receptive to the billionaire American — with chairman Peter Hill-Wood claiming “we do not need his sort”.

The remainder of the Arsenal board who were subject to their internal “lockdown agreement” gave consent to the transaction of 5,000 ordinary shares between Danny Fiszman and Kroenke, which was set at a price of €9,000 each and will be paid to Swiss-resident Fiszman rather than the club itself.

Nevertheless, it remains a significant move behind the scenes. Kroenke’s influence has increased significantly as he now owns just over 20% — perhaps to ward off any potential hostile takeover by Uzbekistan metals magnate Alisher Usmanov, whose Red & White Holdings group are the largest individual shareholders with 25%.

Any notion, however, that this would have any direct influence on the running of the club have been dismissed by Arsenal’s chief executive.

“It is business as usual,” Gazidis declared. “On a day-to-day level, it has absolutely no impact at all. It is a transaction between two board members, both of whom believe in the self-sustaining philosophy of the club.

“Stan is a model owner,” Gazidis said. “He takes the long-term view and believes in the model that Arsenal has been run on, of self-sustainability, and has developed a good relationship with other members of the board.”

Meanwhile Hull have submitted their full version of events to the FA following allegations assistant manager Brian Horton was spat at by Arsenal club captain Cesc Fabregas.