Jubilation at Emirate as Arsenal owner Stan Kroenke completes $81.5m business purchase days before crucial transfer window opens
Arsenal owner Stan Kroenke has added to his list of investments with an $81.5 million payment prior to the beginning of the transfer window, it has been reported.
Kroenke initially began his involvement with Arsenal as a minor shareholder, before gradually increasing his share and completing a majority takeover of the club in 2011.
In 2018, he bought out shares held by Alisher Usmanov to increase his holding to over 90 per cent.
The American has often been criticised for his running of Arsenal, especially for the decision to involve the club in the initial proposals for the European Super League. The Gunners were due to be a founding member, before pulling out of the project days later.
But public opinion towards the Kroenke family has grown in recent seasons, particularly since the increased involvement of Stan’s son, Josh, in the running of the club.
After a second-placed finish in the 2022/23 Premier League, the Daily Mail reported that Arsenal boss Mikel Arteta will be given an initial summer transfer budget of £180 million to spend this summer – which could allow the Spaniard to land several of his top targets.
And Kroenke has also been directing money towards increasing his business portfolio, it has been reported.
Kroenke completes $81.5 million deal.
According to reports, Kroenke has shelled out $81.5 million to acquire Malibu Village in California.
The shopping centre, which covers 51,000 square feet, is said to add to the list of property he currently owns in the region.
The Real Deal claim that Kroenke paid around $1,600 per square foot to acquire the land. The deal will increase his net worth, which Forbes state as $12.9 billion in real-time.
As well as his ownership of Arsenal men’s and women’s teams, Kroenke is also the CEO and owner of NFL franchise Los Angeles Rams, and owner of NBA franchise Denver Nuggets.
His involvement in US sport extends to the NHL, where he owns Colorado Avalanche. He also owns two esports teams in Los Angeles, as well as MLS franchise Colorado Rapids, which had a technical partnership with Arsenal prior to the 75-year-old acquiring a shareholding in the club.
