Arsenal fans urged not to sell shares to Kroenke

LONDON, (Reuters) – Arsenal supporters who own  shares in the club are being told not to sell to American  billionaire Stan Kroenke, who this week agreed a takeover deal.

“The AST (Arsenal Supporters Trust) and Arsenal Fanshare  scheme will not be selling the shares it owns and urges all  supporters to reject this offer,” said the AST in a statement.

“Arsenal is too important to be owned by any one person. The  AST wants to work with Stan Kroenke to keep Arsenal supporters  involved in the club’s ownership structure.”

Billionaire Kroenke, who already owns close to 30 percent of  the London club, said on Monday he had offered shareholders  11,750 pounds ($19,110) per share and had already secured the  backing of 17 percent shareholder Danny Fiszman and 16 percent  shareholder Nina Bracewell-Smith.

The American now controls 63 percent of Arsenal and under  Takeover Panel rules is compelled to make an offer for the  remaining shares.

RED AND WHITE

Russian steel magnate Alisher Usmanov is the other major  shareholder, holding a 27 percent stake through his Red and  White vehicle which has so far declined to comment on what his  plans are.

“In just six months the Arsenal Fanshare scheme has gained  1,800 members who have invested 500,000 pounds in Arsenal  shares,” said the AST.

“This scheme has been widely praised across the football  community and is supported by the government who are currently  reviewing football’s governance structures.”

More than 100 members who attended an AST meeting in London  on Monday voted unanimously for the trust to continue its  campaign for supporters to remain in the club’s ownership  structure, the statement added.

The 63-year-old Kroenke, worth $2.9 billion in 2010  according to Forbes, already owns several U.S. sports teams  including the NBA’s Denver Nuggets, the NHL’s Colorado  Avalanche, NFL team the St Louis Rams and Major League Soccer  team the Colorado Rapids.