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eh?

how come his percentage hasn't gone up if he has more shares?

Interesting.

Kroenke will own the club before September 2010.

he paid a lot for some shares so is waiting a while before he buys the rest so they don't cost the same amount which according to the rules they'd have to, or so the theory goes....

Its gonna be either of two things. As nayan said in the debate thread, he'll get told to walk as he don't have the funds. So he will put us into debt which will undermine everything the board have told us since forever. Or, he's strenghtening his position ahead of jabba and once he's flogged one of his US teams, come back and hoover the rest.

my guess would be that his percentage went up but not a whole tenth of a percent.

say from 29.91% to 29.97%



Mr. B, you've reawakened my fears about citizenship innumeracy.

possibly. but then if he has had to borrow the money and cant keep the payments going his creditors will own the club not long afterwards.

well its possible he will have the cash ready from selling certain parts of his of his sports portfolio. Think there was something along those lines on ANR.

IF thats the case happy days - we will be cash owned by a proven mover and shaker in sports.

Utd are also owned by people who know how to make money from a *gah* sport franchise but the glazers hae had to take out a large mortgage to do it. Which means they are at liberty to squeeze the club to geenrate maximum cash and help pay off their debt first, and grow the club second.

I know it doesnt feel like it given what they've won since the glazers took cahrge but think about this - the glazers injected no new cash and simply ordered the club to spend money out of its own savings.
Utd could've done all that without the glazers.

KROENKE EDGES TOWARDS TAKEOVER
Posted 24/11/09 13:18EmailPrintSave


Arsenal v Standard Liege. Click here to bet.
American Stan Kroenke has made another purchase of 10 Arsenal shares to move a small step closer to the takeover threshold.

Kroenke's latest acquisition, at a cost of some £85,000, continues the trend of picking up stock at regular intervals, recently buying 100 from chairman Peter Hill-Wood, yet without making a formal bid for overall control at the Barclays Premier League club.

A statement to the PLUS Market, where Arsenal's parent holding company are listed, read: "On 20th November 2009, Arsenal Holdings plc (the "Company") received notification that on 19th November 2009 Stan Kroenke, a director of the Company, acquired 10 ordinary shares of £1.00 each in the Company at a price of £8,500 per share.

"Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 18,604 ordinary shares in the Company, representing 29.9% of the Company's issued ordinary shares."

Under the strict financial rules of the City, were Kroenke - who owns the Denver Nuggets basketball team - to cross the 29.99% takeover threshold, with around 62 more shares, he would be obliged to make a formal offer for the remainder of the shares at the highest price paid for stock during the past 12 months, which was £10,500 in May.
However, shareholders would not be forced to sell, and so after the offer had been made, if Kroenke, already on the Arsenal board, was not able to reach 50%, then he could not return to make another takeover offer for 12 months, unless invited to do so by the company.

It has been suggested Kroenke's continued steady investment is designed to fend off possible aggressive moves by Russian Alisher Usmanov, whose Red & White Holdings have just over 25% of the club.

Lady Nina Bracewell-Smith, who left the board during December last year, could well hold the balance of power with her family's 15.9% stake, which if sold to either Kroenke or Usmanov would push both well past the takeover threshold.

Hmm.

Kroenke will own the club 12 months and one day after the 61st share is bought.

Hmm.

Kroenke will own the club 12 months and one day after the 61st share is bought.

in fact the board could invite him to bid sooner than that. The main issue is how he is going to pay for it.

If he has the cash it could be very good and stable.
If he has to borrow it and then effecively load the burden onto an already indebted club it could be very nasty.

That said whether we are cash rich or leveraged and living on a prayer - we are better off as professional outfit run by a kronke/gazidis than a fat uzbek jabba lookalike's penis extension.