Kroenke makes cash offer to take control of Arsenal

Stan Kroenke has made a cash offer to buy Arsenal outright in a deal that values the Premier League club at around £1.8billion.
The American billionaire, whose Kroenke Sports and Entertainment company already owns 67 percent of the club, has attempted to take total control of the club after securing the backing of minority owner Alisher Usmanov.
It represents a change in stance from Usmanov, who turned down Kroenke’s £525m offer for his shares in October.
Kroenke said in a statement to the London Stock Exchange that he thought the club would benefit from being taken private.
Stake for sale: Kroenke has secured the backing of minority owner Usmanov (above) (Bongarts/Getty Images)
The statement added: "We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.
"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents."
But there are fears that that if he acquires total control of the club then it could lead to a reduction in transparency.
After reports in July suggested Usmanov was actively exploring the sale of his 30.4 per cent share in Arsenal, a spokesman for the Arsenal Supporters’ Trust told Standard Sport the AST would be "very concerned" at any outcome that saw the club wholly owned by Kroenke.