Arsenal owner Kroenke’s huge net worth could be slashed in half over NFL row

Arsenal owner Stan Kroenke's staggering net worth could be slashed in half over a legal row involving the NFL, it has been claimed.

Kroenke is currently in a dispute over who should pay for legal fees for an ongoing case against his Los Angeles Rams franchise.

Suits have been filed against the Rams from St. Louis, alleging the team did not honour certain obligations ahead of its move to Los Angeles.

According to reports in the US, Kroenke had promised to cover certain legal expenses but there is now a dispute.

And it could cost Kroenke a chunk of his mammoth net worth estimated to be around £8billion.

Legal expert, Daniel Wallach, told local news channel KSDK: "Never in his wildest dreams did Kroenke believe that the league and him personally would be vulnerable to a multi-billion dollar damages award, and that's what an indemnification agreement does.

"It actually says to your fellow owners, I'm going to cover your legal tab entirely. He didn't think this would be a multi-billion dollar case.

"When you stack up all the different damage calculations and and computations, the different categories, it could wipe out a minimum of half of Kroenke's net worth.

Kroenke's son, Josh Kroenke, had earlier on Sunday given a rare interview to SkySports.

He discussed the Gunners' failed attempt to join a European Super League (ESL), along with the family's difficult relationship with Arsenal fans.

In one answer, he said: "When you're at the bottom there's only one way to go, and that's back up."

But it didn't impress Jamie Carragher, who compared Arsenal's director to sitcom legend David Brent.

Carragher said: "There was a little bit of David Brent in it. Vision. Strategy. For me they're just words.

"When you talk about what happened at the end of Arsene Wenger's time, when they talk about 'we went out of the top four, we need to re-evaluate'.

"Why were they not re-evaluating when they were in the top four. They weren't challenging for the league for a very long time.

"I think No.1, I'm pleased part of the ownership has come out and spoke. Not just Arsenal, I'd like to see that from a lot of other clubs. I really applaud the interview with Geoff there.

"They took it for granted that they were in the Champions League. That was a cash cow for them. Now they're not in the Champions League, there's this desperation to get back in there, I understand that.

Don't miss a thing with our football updates!

Want to be on the ball with all of the latest football news?

Well then sign up for the brilliant Daily Star football email newsletter!

From the latest transfer news to the agenda-setting stories, get it all in your email inbox – don't miss a thing.

How do you sign up?

It only takes a matter of seconds.

Simply type your email address into the box at the top of this article and hit 'subscribe'.

And that's it, job done. You'll receive an email with all of the top news stories every single morning.

You can find out more information on our email newsletter on this link here.

"You then throw money at it to try and achieve to get back in there. You talk about then that will attract better players to challenge for the league.

"But under their ownership, they've been in a position where they were in the Champions League and they never challenged for the league. So that for me will be the proof in the pudding.

"When Arsenal get back in the Champions League, which they will because they're a great and massive club, what do they do when they're there.

"It's not just about the Champions League. It's about when you're in the Champions League, then go for the league, then go for the Champions League trophy. Not just be happy to be in the competition, because that's what's happened to that club for too long."

Source: Read Full Article