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US real estate billionaire buys Arsenal stake
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Bolton Arena
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location: Bolton, Greater Manchester, United Kingdom
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ITV has sold its 9.99 per cent stake in Arsenal Football Club to the American real estate developer and billionaire Stan Kroenke for £42m.
ITV has also entered into conditional arrangements with Kroenke to sell its 50 per cent shareholding in Arsenal Broadband, which would bring the combined consideration to £65m.
Kroenke already owns the Denver Nuggets basketball team, the Colorado Avalanche ice hockey team and the Colorado Rapids soccer team as well as co-owning the St Louis Rams American Football franchise, so therefore speculation is rife that he intends to make a bid for the Gunners.
As yet, Kroenke has refused to comment on the rumours.
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ITV has sold its 9.99 per cent stake in Arsenal Football Club to the American real estate developer and billionaire Stan Kroenke for £42m.
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