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Tuesday, September 25, 2007

Arsenal Directors Unwelcome the Foreign Investment

Major English premier League club, Arsenal will not welcome any foreign investors to buy the share of this club. Eight directors of Arsenal have recently decided that they will not sell their shares to any foreigner. Total amount of share of these eight directors sums up 45 percent. Such unwelcome to foreign investment came after a few multibillionaire showed their interest to buy Arsenal share this year.

Stan Kroenke a well known face in American sports has showed his interest to Arsenal this year. However, foreign investment has become a major issue after an Uzbek Billionaire, Alisher Usmanov bought 21 percent share of the club from its former vice president, David Dein who is strong in favor of foreign investment in the club.

Times Online reported:
The lockdown was triggered by the unwelcome advances earlier this year of Stan Kroenke, the American sports magnate. But an even greater threat has loomed over the Emirates Stadium, in the form of Alisher Usmanov, the Uzbek billionaire, who has spent more than £90 million building up a 21 per cent stake in the club and installed David Dein, the former Arsenal vice-chairman, as head of his investment vehicle, Red and White Holdings.

Arsenal is the richest club in England and they have sheer amount of money in the bank. The club has various sources of regular cash in. Now, it is clear that there is a split among the Arsenal directors. One group wants foreign investment saying that it will boost the club’s economy. However, other group thinks that foreign investment will be a threat to the club. Now, it is yet to see which group will win the battle. However, fans will be much happier to see Arsenal with another English Premiership title in this season.

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