Majority shareholder Stan Kroenke has made an offer to take full ownership of Arsenal in a deal that would value the Premier League club at 1.8 billion pounds ($2.3 billion).
The U.S.-based Kroenke Sports and Entertainment owns 67 per cent of the club and has offered to purchase the 30 percent held by Alisher Usmanov's Red and White Securities firm.
In a statement published Tuesday via the London Stock Exchange, the company said the successful implementation of the offer would bring benefits of a single owner "better able to move quickly in furtherance of the club's strategy and ambitions. KSE is a committed, long-term owner of the club."
"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents."
Disclaimer: No Business Standard Journalist was involved in creation of this content