Arsenal deny takeover talk

Arsenal insist they have not had any contact with any potential buyers following reports an unnamed Middle Eastern consortium is planning a €1.75 billion bid to take over the Premier League club.

The consortium’s offer, which is double the valuation of the club two years ago, is reported to be for 100% of the shares, most of which are controlled by largest shareholder Stan Kroenke, the US investor who owns 66.83% of shares, and Russian businessman Alisher Usmanov, who owns a 29.96% stake. The money will also clear the club’s debts and provide substantial transfer funds.

However, Arsenal spokesman Mark Gonnella 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.”