Following the collapse of the Super League, club owners and presidents across Europe are under significant pressure, especially in England. Two of England’s biggest clubs Manchester United and Arsenal ownership have faced the wrath of the fans for a long time and the decision to join the Super League has made the matter worse.
Kroenke Sports & Entertainment (KSE) have never been popular in North London but they’ve never been less popular than they are right now. Stan Kroenke was set to be the vice-president of the Super-League, but days after the fallout of the Super-League Kroenke has faced nuke-holes to sell the club.
In a fan’s forum conducted on 22 April, Josh Kroenke and Cheif Executive Vinai Venkatesham met with impassionate and hostile pleas to sell the club. Josh Kroenke has assured the fans that Arsenal will pay the cost of backing out of the Super-League which is reported to be around £8 million and is adamant that the club is not for sale.
The matter is hardly over the little trust that existed between the club and the fans has eroded further. In a recent game against Everton around 3,000 fans held a demonstration outside the Emirates Stadium demanding a change in ownership.
Daniel Ek the founder of Spotify has emerged as a potential buyer. He announced his interest on Twitter “As a kid growing up, I’ve cheered for Arsenal as long as I can remember. If KSE would like to sell Arsenal I’d be happy to throw my hat in the ring”.Â
According to Forbes magazine, Ek is estimated at around $4.5 Billion. According to reports he is in the process of putting in a bid and is being assisted by three Arsenal legends Thierry Henry, Dennis Bergkamp, and Patrick Vierra. Ek confirmed on Wednesday that he is serious about putting up a good proposal to Kroenke. The Swede also confirmed that he has funds ready to complete this takeover.
Will the deal go through?Â
In truth, it is very unlikely because KSE’s position is that Arsenal is not for sale. The club’s value is estimated to be around £2 billion and the asking price around £3 billion. The majority of Ek’s wealth is represented by 9% shareholding in Spotify he’ll have to sell his majority of shares to meet the asking price. Ek is expected to submit a £1.8 billion offer to buy Arsenal in the next few days.