Arsenal might already have found themselves a potential new buyer amid protests over Stan Kroenke’s ownership.
The Gunners fans expressed their feelings towards Kroenke and Kroenke Sports and Entertainment on Friday night when supporters turned up at the Emirates Stadium.
Thousands of Arsenal fans protested against Kroenke’s ownership ahead of their side’s 1-0 home defeat to Everton on Friday evening, furious over The Super League and the many decisions made before it.
Gunners fans have been discontent with the ownership situation for some time, but the decision to join the ill-fated Super League may have proven to be the final straw.
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Arsenal fans, and indeed supporters of other clubs who agreed to join, were outraged by The Super League, which was seen as a breakaway competition started by, and indeed created to serve, the rich.
On the back of that, Josh Kroenke did a forum with supporters where he apologised for Arsenal’s part in the saga, but he said his family have ‘no intention’ to sell the club.
Though, Spotify co-founder Daniel Ek is hoping they change their mind, writing on Twitter during the protests: “As a kid growing up, I’ve cheered for @Arsenal as long as I can remember. If KSE would like to sell Arsenal I’d be happy to throw my hat in the ring.”
The question is, however, whether Ek, with his £3.1billion net worth, can afford to actually buy Arsenal, even if KSE decided to sell up.
(Image: Drew Angerer/Getty Images)
There are a lot of factors at play when it comes to purchasing a club.
If we are discussing the possibility of KSE selling 100% of its shares and EK buying them all, it’s not a likely scenario.
Ek may be worth £3.1billion, but that is not all available cash, and in any case, he is not going to give up more than half of his net worth to buy a football club, nor any business.
According to Forbes, Arsenal are now worth just over £2billion with annual revenues of £309million and an operating income of £33.8million.
That club value has risen 23% in the last two years alone and has risen significantly since KSE bought the club.
It’s difficult to estimate just how much Kroenke actually bought Arsenal for, given he bought shares in the club in 2007 and significantly increased shareholdings in 2011 and then finished purchasing Arsenal Holdings in 2018.
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But in 2011, the shares Kroenke bought put Arsenal’s total value at the time at £731M, suggesting the club has more than doubled in value since that time.
With that in mind, Ek would need a partner to purchase Arsenal, as well as loans depending on his available cash situation, though that is entirely normal for businesses or individuals purchasing stakes.
Ek has a net worth of around half of Stan Kroenke, whose net worth is currently just under £6billion, but he could still purchase Arsenal.
It would just take a consortium effort or significant partner, given KSE are extremely unlikely to sell the club for a penny less than its worth.