Daniel Ek given positive takeover update as Arsenal sale ‘may appeal’ to Stan Kroenke

Arsenal: Fans protest against owner Kroenke

When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.

Arsenal owner Stan Kroenke may be open to selling the club to ‘quickly generate’ funds, according to reports. Spotify founder Daniel Ek is leading a consortium alongside three Arsenal legends in an attempt to buy the north London club.

Kroenke, who took complete control of Arsenal in 2018, has been much-maligned ever since buying an initial stake in the club 14 years ago.

Thousands of supporters gathered outside the Emirates last Friday to protest against the American’s ownership.

Following the protest, Ek tweeted his intentions to buy the club he has supported since he was a child.

Kroenke’s son Josh, who is a director at Arsenal, stated last week KSE had no intentions to sell.

JUST IN: Ryan Mason graphic suggests Tottenham chief Daniel Levy made Mourinho mistake

However, ESPN claim KSE’s intention to join the breakaway European Super League last week was potentially part of their exit strategy to ‘quickly generate fresh revenue’.

Arsenal have since pulled out of the Super League and ESPN say a sale may now appeal to Kroenke in order to raise funds they missed out on.

Thierry Henry, Patrick Vieira and Dennis Bergkamp are the three legendary former players who are part of Ek’s consortium.

Swedish entrepreneur Ek is claimed to be worth £3.2billion, with Arsenal reportedly worth at least £2bn.

DON’T MISS
Liverpool ‘close in on £52m double transfer swoop’ that will please Reds boss Jurgen Klopp [RUMOUR]
Tottenham’s Brendan Rodgers anger as Daniel Levy looks for new boss after Man City defeat [REPORT]
Man Utd swap deal makes perfect sense for Ole Gunnar Solskjaer after Leeds draw [COMMENT]

Financial journalist Johan Wendel is confident Ek can afford to buy the north London side and reckons he can lead the Gunners to competing with some of the biggest clubs.

“I don’t think Daniel Ek would make a tweet like that, a comment like that, if he hadn’t thought of the financial considerations,” Wendel told Sky Sports News.

“I think he can afford it and the bulk of that wealth is Spotify shares.

“He owns Spotify shares worth almost £3.2b, so that’s the bulk of those shares.

“He might be able to use those for leverage for a bank, stuff like that.

“But I think he could afford it, but it all depends on the price and if the Kroenkes are [prepared] to sell.

“I think so [Arsenal could challenge the top teams].

“This is a man who helped found a company who took on the biggest record companies in the world and made this very successful streaming company.

“So I do think that and if you think about Spotify, this is a company founded in 2006 – it hasn’t turned a profit on an annual basis since then.

“So Mr Ek is obviously very used to running an operation where profit isn’t the next quarter or the next year, but the focus is the growth. Obviously that is what Arsenal need at this moment.”

Source: Read Full Article