Stan Kroenke to gain full control of Arsenal

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The direction of Arsenal could take another turn, after news came out on Tuesday suggesting majority owner and American billionaire Stan Kroenke is set to purchase a full stake in the club.

Kroenke, who currently owns a controlling 67 percent of the Gunners, will buy the remaining 30 percent owned by Arsenal shareholder Alisher Usmanov for over $700 million to complete full control.

“I have decided to sell my shares in Arsenal, which could be the best football club in the world,” Usmanov said.

By virtue of taking over Usmanov’s stake in the team, Kroenke will legally claim the remainder of Arsenal’s shareholders’ stake.

Additionally, Kroenke will take the club private, which will no longer allow supporters to purchase stake in Arsenal.