Stan Kroenke is in control but Arsenal Supporters’ Trust refuse to sell

Published: 14th April, 2011
by STEVE BARNETT

THE Arsenal Supporters’ Trust (AST) have refused to sell their shares to prospective new owner Stan Kroenke after declaring the club is “too important to be owned by any one person.”

American businessman Kroenke triggered a full takeover on Monday when he secured a controlling stake in the club and is now obliged to make a mandatory cash offer for the remaining capital.

Arsenal’s board has recommended all shareholders accept the offer, but the AST have voted “unanimously” against relinquishing their involvement in the club’s ownership. After more than 100 members met in London, a spokesman said: “The AST wants to work with Stan Kroenke to keep supporters involved in the club’s ownership structure.

“The AST and the Arsenal Fanshare scheme will not be selling the shares it owns and urges all supporters to reject this offer.”  

Kroenke’s majority holding is now 62.89 per cent.