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Before the North London derby between Arsenal and Tottenham Hotspur teams on Sunday, news reached England that another football club in the country has become a target for billionaires from Arab countries. An unnamed consortium of Middle Eastern businessmen wants to stay in the game and promises to offer Arsenal's club owners a record deal of 1.7 billion euros for all club shares.
The businessman's representative announced the possible deal on Saturday evening - the eve of a very important North London derby. According to The Guardian, Middle Eastern businessmen are ready to take over all 100% of the club's shares and offer a record amount of 1.7 billion euros (the Glazer family from the US controls 98% of Manchester United shares, for which they paid about 923 million euros, making this club the most valuable in the world - ed. note).
Currently, the majority of the club's shares are owned by two businessmen. American Stan Kroenke owns about 66.83% of the shares, while 29.96% are held by Uzbek billionaire Alisher Usmanov.
According to the source, the consortium is ready to offer about 957 million euros for S. Kroenke's stake, which is roughly 461 million euros more than the shares are worth. The American bought 30% of Arsenal shares in 2007, and in 2011 added the remaining shares and is now the club's largest shareholder and board member.
A. Usmanov increased his stake in the club in 2011 and has repeatedly criticized the team's managers for their policies and the sale of key players. However, the Uzbek is only a shareholder and does not participate in the team's management.
However, Middle Eastern businessmen do not intend to buy the team outright. They have set a condition for the club - Arsenal must finish at least fourth in the Premier League this season, which would allow them to compete in the UEFA Champions League next season.
"The team is now in a situation where upcoming events and a few matches could determine the end of the season. The biggest fear of investors is that the club may soon fall into a similar pit as Liverpool has recently experienced. We believe that now is the best time to make an effort to take over the team and preserve its values.
If Arsenal falls into a pit, we will not buy it, and S. Kroenke and A. Usmanov will no longer be able to expect such large sums of money. At present, we can offer the owners the maximum price. However, given the amount planned for investment in the club, the price of buying shares can no longer be increased," said the representative of the consortium of businessmen.
Currently, tickets for Arsenal matches are the most expensive in the Premier League, so the consortium of businessmen promises to reduce prices. They also promised to continue the club's policy towards young players, invest in the youth academy, repay the accumulated debts from the Arsenal stadium construction, but still comply with the new UEFA Financial Fair Play rules.
Of course, when the club is taken over by investors from Arab countries, one can expect similar cash flows as those received by clubs such as Manchester City or Paris Saint Germain in recent years. However, possible club owners have expressed confidence in current Arsenal manager Arsene Wenger.
Arsenal is currently in fifth place in the Premier League and has collected 47 points after 27 matches, trailing fourth-placed Tottenham Hotspur (51 points) by four points. Chelsea, in third place, has 52 points but has played one more game.
The North London derby between Arsenal and Tottenham Hotspur on Sunday is very important, and in case of defeat, Arsenal's chances to rise at least to fourth place would be significantly reduced.
