Arsenal boardroom battles over Â£150 million rights issue

projoe · Post by **projoe** » Thu Jul 02, 2009 8:07 am

http://www.thisislondon.co.uk/standard- ... article.do

Arsene Wenger will know later today whether he can go on a summer spending spree.

The board of Arsenal is meeting today to discuss whether the Plus Markets-traded football club will aim to raise funds from existing shareholders in a rights issue for up to Â£150 million.

Demand for the rights issue is not simple and is likely to lay bare the warring factions on the Gooners board.

The fundraising has been proposed by Alisher Usmanov, the Uzbeki commodities billionaire who owns 25% of the club, putting him directly into conflict with US sports magnate Stan Kroenke who has built up a 28% stake. To further complicate matters long-time shareholder, diamond dealer Danny Fiszman owns 16% and is reckoned to be allied to Kroenke.

Old Arsenal family money comes in the shape of Lady Bracewell-Smith's 15% shareholding and many believe that she could sell up to Usmanov.

Arsenal needs the money to refinance a Â£133 million loan â€” linked to the faltering sale of flats at its old Highbury home â€” which needs to be renegotiated by next year.

Gooner fans meanwhile will be hoping the board will also be able to find money to transform Wenger's perennial on-pitch underperformers.

Gunnersaurus · Post by **Gunnersaurus** » Thu Jul 02, 2009 8:11 am

I don't think this will be accepted, the board don't want him involved otherwise he would be on the board by now but they also don't want to put their hand in their pockets.

digger · Post by **digger** » Thu Jul 02, 2009 8:18 am

It's fairly risk free, Usmanov wouldn't get on the board unless he was invited or bought over 50% of the shares. I'm not so sure that that would be a bad thing anyway now, other members of the board hold us back more.

Usmanovophobia aside, I can't see any negatives with this idea? The fact that Arsenal are calling a press conference suggests they're considering it.

Gunnersaurus · Post by **Gunnersaurus** » Thu Jul 02, 2009 8:30 am

When is the press conference?

projoe · Post by **projoe** » Thu Jul 02, 2009 8:30 am

i was about to ask the same thing

Gunnersaurus · Post by **Gunnersaurus** » Thu Jul 02, 2009 8:31 am

It might be to announce the signing of 13 year old wonder kid Hector from Spanish club Espanyol City though.

Post by **I Hate Hleb** » Thu Jul 02, 2009 8:33 am

Well there is a Board Meeting today. However, not sure about a pre-planned press conference, although I'm sure the club will let us now something on propaganda.com - eventually!!

augie · Post by **augie** » Thu Jul 02, 2009 8:41 am

I totally agree with the sentiments of gunnersauras when he says that this will neither be accepted by the board nor will they dip their hands into their own pockets

On the press conference issue I think that somebody said on here yesterday or the day before that there was a scheduled conference called for today. The feeling at that time was that it would be to announce a new signing but of course this whole press conference story could be a load of bullshit

digger · Post by **digger** » Thu Jul 02, 2009 8:44 am

Said there was a press conference scheduled today on SkySports news.

projoe · Post by **projoe** » Thu Jul 02, 2009 9:03 am

digger wrote:Said there was a press conference scheduled today on SkySports news.

any time given?

projoe · Post by **projoe** » Thu Jul 02, 2009 9:08 am

could the press conference just be for Vermaelen, now the transfer window has officially opened

Boomer · Post by **Boomer** » Thu Jul 02, 2009 9:10 am

Maybe it's for Ade.....

"hello yes! I have heard da rumours about certain teams which maybe interest in me. Well I am here to tell you all I'm committed to Arseanal. My heart is in this club and they are like a family to me. Why would I want to leave the people and fans that I love so much"
(flash of camera's)

Reporter: So you wasn't interested in any offer from Milian?

Ade: What? Milian? Yeah man! I'd farking love to go there! How much?

GunnerDude · Post by **GunnerDude** » Thu Jul 02, 2009 9:13 am

1/100 this doesn't happen. Will be an episode of 'Everybody Hate Usman'

But we will wait and see.

hadareud · Post by **hadareud** » Thu Jul 02, 2009 9:19 am

I haven't told anyone yet, but the press conference is actually for me.

I will be unveiled as the clubs official rose-tinter. Specifically my role is to translate Wenger's post game interviews into statistics.

So "we've shown great character and resilience" could translate to "we have won 53 % of the tackles and our players toe-nails have been cut on an average of 4.3 days more recently than those of the opposition".

I am looking forward to amaze and entertain you all with fascinating facts like these on a daily basis from now on.

RoscommonGooner · Post by **RoscommonGooner** » Thu Jul 02, 2009 9:50 am

Gunnersaurus wrote:When is the press conference?

Ramon knows, on a different thread yesterday he wrote

ramon wrote:there is a press conf organized at the london cono this week at some point - expect some movement

Mind you that was in relation to Ade