Mr American Billionaire, Stan Kroenke has bought 50% of Arsenal Broadband, the company which runs IT and Internet services for Arsenal as well as the Arsenal.com website. ITV have recently sold many of their extra operations, but £22.7m is a lot of money for the 50% share. Similar deals have seen ITV sell it's stakes in Liverpool and Man U, but this is by far the largest amount.
It's an interesting purchase from Kroenke as he has re-iterated his desire to be here "long term" and buying a 50% stake in Arsenal broadband is a massive step in that direction. Keith Edeman (our managing director), spoke today on this:
“We have held constructive and fruitful discussions with Stan Kroenke over the past year and are excited by the prospect of further developing our mutual commercial projects with KSE. In addition, we’d like to take this opportunity of thanking ITV for their support and contribution over the last seven years.”
When Kroenke first arrived on the scene, we didn’t want him but when Usmanov got involved, he didn’t look that bad… it’s a strange situation to be in, because we simply don’t know who is good for us or not! Who’s worse? What are the intentions of both?
It’s a weird situation to be in but at least we have the comfort of the board trying their best to protect our club.
Hmmm, let’s see what happens.]]>