? AST urges fans to reject any offers to sell shares
? 'Arsenal too important to be owned by any one person'
Arsenal fans have sent a clear message to Stan Kroenke that they do not want him to take sole control of their club. The US billionaire has launched a �500m mandatory full-takeover bid of Arsenal after acquiring a further 32% of its shares from Danny Fiszman and Lady Nina Bracewell-Smith to go with his 29.99%. However there will be resistance from the Arsenal Supporters' Trust, whose members collectively hold about 3% of the club's equity.
"Arsenal is too important to be owned by any one person," the Trust said in a statement prepared after its AGM on Monday. "The AST wants to work with Stan Kroenke to keep Arsenal supporters involved in the club's ownership structure. The AST and the Arsenal Fanshare scheme will not be selling the shares it owns and urges all supporters to reject this offer. In just six months the Arsenal Fanshare scheme has gained 1,800 members who have invested �500,000 in Arsenal shares. This scheme has been widely praised across the football community and is supported by the government who are currently reviewing football's governance structures."
The Trust referenced the Guardian's Tuesday report that Jeremy Hunt, the culture secretary, had stressed that Kroenke should maintain Arsenal's structure of supporter ownership through the ground-breaking Fanshare scheme it devised. "The Culture Secretary Jeremy Hunt yesterday called on Stan Kroenke to continue the Fanshare scheme," added the Trust.
"The Arsenal board supported Arsenal Fanshare and Stan Kroenke was a member of the board at the time. Stan Kroenke has also previously told the AST that he sees supporter shareholders making an important contribution to the club and that the AST provides 'independent perspective to the shareholders, board and management'.
"The AST spoke to Ivan Gazidis on Monday 11 April and he reiterated the importance he places upon fans' involvement in the club and stated his commitment to custodianship," it said.
"The AST is encouraged that Kroenke's offer states he does not intend to 'de-list' Arsenal from the PLUS markets. In the next few days we will seek further confirmation of his plans in this area and would like to see more detail in the formal Kroenke Sports Enterprises offer document.
"AST is encouraged to hear Red & White [Holdings] plan to keep their shares. They have previously stated their long-term commitment to the club and this decision would be a good demonstration of that."
Source: http://www.guardian.co.uk/football/2011/apr/12/arsenal-stan-kroenke
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