Usmanov

[LB]

Can someone explain to me why the current board do not buy more Arsenal shares themselves? Surely that would kill all possibilities of a deal.

[Magic Hat]

They hold somewhere near 50% themselves which means one of them would have to backstab the others for a take over to happen, if Kronkane is on their side then there is little Red and White can do.

[26may1989]

That doesn't answer the question Magic. LB makes a good point, if Fiszman et al want to improve their position, and are willing to pay the £10k per share Usmanov is supposed to have just paid, they should do so, both to increase their own holdings and to block him getting more.

But today's news means they've already lost a key battle. At 21%, Usmanov/DD could, if they get just Kroenke (who wasn't part of the lock-out agreement the board members signed blocking sales by any of them till April 2008), to sell his shares get over the 30% barrier. This would enable them to bid for the whole club, I think regardless of the lock-out agreement.

Very, very worrying. Does anyone know where DD lives, I feel like delivering something to "thank" him....

[Rainham Red]

I don`t think we can rely on Kroenke to come to rescue us from Usmanov because he is a business man with no emotional link to Arsenal.If the Russian offers £10k a share for his holding I can`t see him refusing such a fantastic profit and to be honest could you blame him?

[26may1989]

I don`t think we can rely on Kroenke to come to rescue us from Usmanov because he is a business man with no emotional link to Arsenal.If the Russian offers £10k a share for his holding I can`t see him refusing such a fantastic profit and to be honest could you blame him?

Agreed.

[Magic Hat]

Right so after the 30 mark, automatic bid happens and the board all turn down the offer to sell their shares, take over ends and the guy has wasted his money. Why is this a concern?

[26may1989]

Right so after the 30 mark, automatic bid happens and the board all turn down the offer to sell their shares, take over ends and the guy has wasted his money. Why is this a concern?

If it happens that way, and everyone refuses his offer, no problem. And it could happen that way.

But in reality, getting someone to crack (such as Nina Bracewell, whose links with the club are limited) may not be difficult, esp given that Usmanov would have to offer at least as much as the high price (£10k per share) he has just paid for his new shares (if the 30% level is reached within 3 months of now). Once the bidder gets into the 30% territory, they often succeed in taking over, albeit through a long, painful and drawn out process.

So, we really do need to be worried about this, an Usmanov take-over is a real possibility now.

[LB]

That is precisely my concern, although subsequent to asking the question it appears the directors feel that they are all on the same page on this. I sure hope so, but I've seen non-sellers converted in hours. I am an investment banker, though not in the UK. Anyway, we can only speculate, but I worry. These takeovers are a disaster.

[highburyJD]

Nina Bracewell's share have been in that family for generations haven't they...? Not really limited.

The board are talking about another no sale agreement and making tentative pro-Kroenke noises

[Wayno]

This article appeared in the Telegraph, it suggests that Kroenke is backing our current board.

http://www.telegraph.co.uk/sport/main.j ... ars126.xml

Stan Kroenke ready to back Arsenal
By David Bond
Last Updated: 1:48am BST 26/09/2007



The American sports tycoon Stan Kroenke is considering whether to make a public show of support for the current Arsenal regime by attending the club's annual meeting on Oct 18, The Daily Telegraph has learned.

With the club's board on red alert for a takeover raid from Uzbek mining billionaire Alisher Usmanov, directors are working on building a stronger relationship with the Denver sports team owner. They indicated last night that Kroenke would be welcome at the meeting.

Kroenke, who is flying to London for a sports business conference and the NFL game between the New York Giants and the Miami Dolphins at Wembley on Oct 28, was already planning to meet the club's biggest shareholder, Danny Fiszman, and other senior directors during his trip.

Although Arsenal's managing director, Keith Edelman, said on Monday that he still does not know what Kroenke's intentions are, the fact that he is now considering such a high-profile appearance at the annual meeting is a clear sign of his backing. Sources said it showed that rather than launch a takeover he was prepared to bide his time as a long-term investor.
It is understood he has also given a commitment to members of the Arsenal Supporters' Trust to meet them while he is in London.

Despite agreeing a commercial tie-up last year between Arsenal and Kroenke's major league soccer team, the Colorado Rapids, the American's advances were initially rejected by Arsenal chairman Peter Hill-Wood in April.

His purchase of ITV's 9.9 per cent stake, with the help of David Dein, led to a boardroom crisis, with the former vice-chairman sacked over "irreconcilable differences".

Since then Kroenke has distanced himself from Dein, who responded at the end of last month by selling his shares and allying himself to Usmanov.

With the club buoyant on the back of Monday's record-breaking financial results, Hill-Wood and the rest of the board have reiterated their determination not to sell the club to any outside investor.

They reject Dein's claims that the club need a wealthy benefactor, pointing to the effects of the new Emirates Stadium, which helped boost turnover to £200 million last season.

Yesterday Hill-Wood underlined the depth of feeling on the board over Dein's behaviour, insisting there was no way back for him.

He said: "I will not get involved with him again – I will avoid it if I can help it."

He added that Kroenke had got involved with Dein "on a misunderstanding".

[Justin-the-Gooner]

The one thing I find funny is that David Dein calls himself an Arsenal fan. For me I feel Dein"s love for the club has been overshadowed by his lust for power. If Dein was a Gooner would he not care what other Gooners feel?

He must know we don"t want Red and White taking over. So why is he doing things like selling he is shares to the Mafia? It is plane to see that we have money and that the current board are doing things right even though they may be getting older.

Why does Dein want people who are clearly in it for the money near our football club?

IMO Dein is no longer a Gooner.
And Dein if you really still are a Gooner I would like you to do the following:
Drop this takeover bid, Go home and purchase Sky tv and sit at home and be a fan.

[highburyJD]

I agree with justin
orange-sheen dein just wants his chums from g14 and uefa 2put him back on their beano guest-list
boo-hoo I want my champagne, limos and fa blazers back