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Stan Kroenke Owes Arsenal £50 Million - Report
Wealthy American yet to pony up money to the board
11-Oct-2009 2:52:32 AM
The Times Online reports American billionaire Stan Kroenke owes the Arsenal board around £50 million.
This debt is believed to be seperate and preceding the funds necessary for Kroenke's desired increase in his ownership to 29.9 per cent of the London club.
Last December, Kroenke made a £100 million commitment to raise his stake from 12.38 per cent to 28.3 per cent, and has of yet failed to produce half of that amount.
It is believed Kroenke still owes Danny Fiszman and Richard Carr a combined £65 million for their stakes in the club.
Insiders in the Arsenal boardroom are concerned it could take years for Kroenke to pay off his debts, which could affect the spending power of the club, which is already relatively minimal due to the beliefs of Arsenal manager Arsene Wenger.
Will Ashwell.
This debt is believed to be seperate and preceding the funds necessary for Kroenke's desired increase in his ownership to 29.9 per cent of the London club.
Last December, Kroenke made a £100 million commitment to raise his stake from 12.38 per cent to 28.3 per cent, and has of yet failed to produce half of that amount.
It is believed Kroenke still owes Danny Fiszman and Richard Carr a combined £65 million for their stakes in the club.
Insiders in the Arsenal boardroom are concerned it could take years for Kroenke to pay off his debts, which could affect the spending power of the club, which is already relatively minimal due to the beliefs of Arsenal manager Arsene Wenger.
Will Ashwell.
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