New info on Stan Kroenke's £429m US deal rings alarm bells for Arsenal - opinion
07/08/2024 12:48 PM
The latest developments from Stan Kroenke’s homeland illustrate why some Arsenal fans are wary about their owners’ long-term for the club.
Kroenke’s KSE group took control of Arsenal in 2011 and is now the second-most valuable sports group in the world.
The Missouri-born billionaire would already be able to secure a huge return on the cash has invested in the club if he was to put it up for sale tomorrow.
However, Kroenke insists that he is committed to Arsenal for the long term, although he has delegated operational responsibility to his son, Josh Kroenke, in recent years.
The 76-year-old’s step back from day-to-day goings on in North London is perhaps understandable given that he has a portfolio of nine sports teams to manage in total, as well as a huge real-estate empire.
Of those nine outposts, Arsenal are the only one this side of the Atlantic. And the latest news from the US is emblematic of why some Arsenal fans may never
KSE-owned club’s fans take swipe at Kroenke
Arsenal are not Kroenke’s only football investment – he also owns MLS side the Colorado Rapids.
However, Rapids supporters are largely dissatisfied with his ownership of the club, with the club’s official fan group penning an open letter attacking the Kroenke regime in September last year.
Centennial 38 highlighted chronic underinvestment in both recruitment and infrastructure at the Denver-based club, as well as a lack of transparency and communication on operations.
Yesterday, the club faced St Louis City in the MLS Western Conference, wining 4-1 in a match some supporters dubbed the ‘Kroenke Derby’.
Kroenke has no formal connection with St Louis City, but he is not a popular figure in the city after he spent £429m to relocate his NFL franchise the Rams to LA in 2016.
As reported by St Louis outlet Griffon News, a review into the expensive failed attempt to keep the Rams in Kroenke's home state is currently being conducted, reopening old wounds left by Kroenke.
That controversial episode show shows that Kroenke will stop at nothing to achieve his business ambitions, even if that means alienating fans.
And a number of developments at Arsenal would appear to show that his motives in English football are not exempt from this philosophy.
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Kroenke wants Arsenal matches played abroad
As well as the aborted European Super League and Project Big Picture, Kroenke has thrown his weight behind a number of projects that indicate that he is keen to see more matches played overseas.
For examples, the expanded 32-team Club World Cup has Arsenal’s full support.
And while that competition is in jeopardy given that a mooted streaming deal with Apple has stalled, Arsenal’s advocacy shows where Kroenke’s priorities lie.
Ultimately, Arsenal is a capital appreciation project for him. There is no emotional connection, at least not one that would get in the way of earning more cash.
He is one of a number of US investors that believe that Premier League football clubs are significantly undervalued. And when he thinks he has reached peak value, he will cash out.
The independent regulator for English football means a full LA Rams-style relocation of Arsenal is nigh on impossible, but the multi-billionaire will push the very limits of what is possible to increase their value.
