Arsenal FC: 10 Things to Know About Possible New Owner Stan Kroenke
London based Arsenal have become the latest English Premier League club to come under the control of American Owners. Long-time shareholder Stan Kroenke, Owner of Kroenke Sports Enterprises, secured a deal with the Gunners board of Directors to take majority control of the side.
He is not the first American to have earned ownership of a team through gradual acquirement of shares, and some have compared him to Manchester United's Glazer family which took over the northern giants in 2005.
Kroenke seems to have been a little more respected by the English supporters and has led a straight forward plan for Arsenal despite no silverware being brought to the Emirates since 2005.
With his partnership alongside Danny Fiszman, a man who commands enormous respect among Arsenal fans, coming to an end, the American stepped up his interest in the club. Fiszman's ill health has been the catalyst for the Kroenke takeover.
Fiszman's family have little interest in their father's club, and Fiszman has been unable to create a dynasty of his own. So he has sought to manage an orderly succession to a man he views as capable of continuing his own legacy of careful husbandry.
With Kroenke now firmly in the drivers seat after an estimated £500 million deal, here is a list of facts that might interest you about the Gunners new leading man in the shareholders meeting.
Master's of Mizzou
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Before he was a big time sports mogul, Kroenke spent his collegiate days earning a Master's of Business Administration from the University of Missouri.
Realty Man
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Kroenke founded the Kroenke Group in 1983 as his first realty company that has constructed multiple apartment complexes and shopping centers. His holdings have him listed as 43rd among the top 50 shopping center groups in the United States.
In 1991 Kroenke continued his real estate portfolio with the founding of St. Louis based THF Realty. This time he focused on suburban development.
Married into Green
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Not only has Mr. Kroenke build a substantial financial empire in real estate holdings and developmental projects, he also found a way to be financially secure no matter what he does.
He ranks as Forbes 164th richest in the country with a net worth of $1.8 billion, but his marriage to Ann Walton, now Ann Walton Kroenke, one of the heirs to the Wal-Mart and Sam's Club empire makes him one of the most powerful shopping moguls in the world.
Grab the Rams by the Horns
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Kroenke is the president and owner of Kroenke Sports Enterprises, and has owned 40 percent of the National Football League's St. Louis Rams since their 1995 relocation from Los Angeles to Missouri.
In 2010, Kroenke exercised his right of first refusal and used that to purchase the remaining interest in the St. Louis Rams. On Aug. 25, 2010, he became full owner of the Rams by unanimous consent of the NFL.
However, to garner the support of the NFL owners, Kroenke agreed to turn over control of the Denver Nuggets and Colorado Avalanche to his son Josh by the end of 2010, and he must give up his majority holding in both teams by December 2014.
This is due to the the NFL not allowing owners to hold majority control of major league teams in other NFL cities.
Nuggets and Avalanche
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In 2000, Kroenke gained full control of Denver's Colorado Avalanche and the Nuggets when he purchased them from Charlie Lyons' Ascent Entertainment Group.
During that time the Nuggets have won Division titles in 2006, 2009, and 2010. Recently they made waves with their blockbuster trade that saw Carmelo Anthony head to the New York Knicks.
The acquisition of the Avalanche was at the height of their power in the National Hockey League. His first year as owner saw them lift the Stanley Cup in the 2000-2001 season. They ended their eight-straight division title run with the 2002-2003 season.
A Legend and a Crush
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2002 saw Kroenke join forces with John Elway and the Denver Bronco's owner Pat Bowlen to start the Arena Football League expansion franchise the Colorado Crush.
During the reign of the three owners until the 2009 suspension of AFL operations, the Crush won three AFL Titles in 2002, 2005 and 2006. Four conference titles in 2002, 2003, 2005 and 2006 and three division titles in 2002, 2005 and 2006.
The Crush remain the most successful sports franchise during Kroenke's time frame of involvement, 2003-2009.
Big Time Stick Ball
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The Colorado Mammoth became a subsidiary of the Kroenke Sports Enterprises in 2004. The addition of the National Lacrosse League Franchise was part of a two team package deal for the second time in the history of the group.
Since their time under KSE, the Mammoth have one Championship in 2006 and three division titles in 2004, 2006 and 2007.
Welcome to MLS
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The package deal for the Colorado Mammoth included fledgling Major League Soccer outfit the Colorado Rapids. Despite the team never having finished above third in the Western Division since their inaugural season of 1996, the Rapids lifted their first MLS Championship in 2010.
This was the first league title won by one of KSE's teams since the Crush and Mammoth both won 2006 Championships in their respected leagues and the first Major League Championship since the Avalanche in 2001.
Sports Realty and TV
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Kroenke, also known for his real estate money, lent his mind for properties to KSE. He is the owner of the Pepsi Center which is home to the Denver Nuggets and the Colorado Avalanche.
Dick's Sporting Goods Park is co-owned by Kroenke and is the home of his MLS Champion Rapids. Both sporting complexes were built by his development company, the Kroenke Group, and were designed by Populous, formerly HOK Architecture Firm.
Along with facilities, KSG also spread its fingers into broadcasting and opened television station, Altitude, in 2004 as the primary broadcaster of his major franchises the Nuggets and the Avalanche and as the direct competitor to FSN Rocky Mountain.
Welcome to the Board
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Kroenke first had dealings with the Gunners in 2007 when they partnered with his Colorado Rapids. By late 2008 he had increased his share holdings enough to join the Board at 29.99 percent.
At which point if he were to increase he would have the optional right to purchase majority share of the club.
His eventual move came to fruition just yesterday, April 10th, 2011, as talks unfolded that Kroenke was making a move to take majority control of the London Club as reported by Sky Sports News.
This morning, April 11th 2011, the dust settled as Kroenke's KSE offer of £500 million was accepted and he looks to gain control of the Gunners.
What Can Arsenal Fans Expect?
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Although an immediate swift return to glory days of "The Invincibles," is not likely, the London club are getting an experienced sports franchise owner.
The time he has spent on the board with Arsenal has allowed him to see how a top-notch English Football Club is run, and his reputation for not getting deeply involved with the teams day-to-day operations will most likely be of interest to fans as they will want to see people with proper footballing knowledge handle such.
However, Kroenke is no stranger to Football as already owning the Colorado Rapids, though I claim no comparison to league status of the MLS and the English Premier League.
Arsene Wenger and the Gunners faithful now have prominent sports financial backing, and the chances of some additional transfer money might just be in the cards, as Kroenke would like to see some more major trophy packed away into KSE's cabinet that has been as empty as the Gunner's cabinet the last several seasons.
