Stan Kroenke's right-hand man at Arsenal accused of trying to 'derail' £106m masterplan by top chief

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Upsetting various stakeholders – be that fans, rivals or regulators – is an occupational hazard for top sports executives, as Arsenal’s Tim Lewis knows all too well.

Lewis has been advising Kroenke Sports & Entertainment for almost 20 years and in September 2021 was named on the Arsenal board.

Stan Kroenke’s chief consigliere at the Emirates, Lewis has characterised his brief as executive vice-chair as providing the club’s Colorado-based owners with the intelligence needed to make the biggest decisions.

“The brain has to be lined up,” he told the Telegraph in 2023.

“Stan and Josh [Kroenke] want great information. Then they can decide. Trust is a short word. If you're a multi-billionaire, it's a big word."

Lewis is highly respected within football finance and, as one of Mikel Arteta’s champions in periods when the Spaniard’s job was on the line, the club’s renaissance on the pitch can be traced back to him too.

However, the former corporate lawyer has also presided over some of the most controversial episodes in the history of the Kroenke Sports & Entertainment (KSE) empire.

Infamously for Arsenal fans, it was barely six months after the Oxford graduate had joined the board at the Emirates that the club announced it was joining the star-crossed European Super League.

Four-and-a-half-years on, the scars from that aborted football coup have faded but not healed entirely.

There will be a section of the fanbase who – quite understandably – will always have lurking fears about the owners, whose ultimate aim is to turn a profit, not win friends in a small corner of North London.

To anyone who doubts their motives, look at their track record elsewhere in sport.

Yes, they have won trophies. Lots of them, in fact. But Kroenke made countless enemies in St. Lous when he relocated the Rams NFL franchise to Los Angeles, resulting in a lawsuit costing KSE £625m.

Ask fans of MLS side Colorado Rapids about KSE meanwhile and you’ll likely be told that they are absentee landlords.

The ugly duckling of the Kroenke empire, the Rapids are the least valuable franchise in American soccer, where valuations almost everywhere else are skyrocketing.

Kroenke is routinely cited as the worst owner in the MLS, accused of shelving much-needed infrastructure upgrades and investment in the team.

As the man who has to absorb much of this criticism on his paymaster’s behalf, Lewis has thick skin.

That might come in useful given developments this week.

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Sports minister takes aim at Arsenal vice-chair

Last week, Lewis, alongside fellow Premier League club executives Karen Brady and Paul Barber, voiced their unease about the imminent introduction of an independent football regulator.

The aim of the regulator is to enforce responsible financial practices, oversee club ownership and governance, and protect club heritage to ensure long-term stability in English football.

A bill for the government-backed regulator is currently making its way through Parliament and has cross-party support in the House of Commons.

However, Arsenal are among the clubs – in what is a near-universal consensus in the Premier League – who are worried about the potential overreach of a regulator.

Lewis expressed several concerns in an interview with The Times, relating to the regulator’s power to modify parachute payments and other elements of English football’s financial distribution system.

Now, an advocate for the regulator, which is set to cost Premier League clubs £106m, has clapped back.

In a statement to the Daily Mail, Stephanie Peacock MP, who has been heavily involved with the bill, accused the likes of Lewis of attempting to “preserve the status quo” and “derail” the bill.

Stephanie Peacock’s statement in full

“As Minister for Sport, I am proud that this Government is on the side of football fans. That’s why we have brought forward legislation to protect football clubs, give supporters a greater say in how they are run, and safeguard the long term financial sustainability of the game.

“The Football Governance Bill is a key piece of legislation which continues to receive widespread support among football fans, their clubs, and politicians of all colours. And everyone knows why it is needed. From the many clubs that have been faced with financial ruin, to the fallout from the European Super League, the case for reform is clear.

“However, with change coming, it is no surprise that there continues to be a loud minority seeking to derail the debate, promote untruths and preserve the status quo. We have repeatedly said that this historic Bill will deliver a light touch Independent Football Regulator.

“This body will be tasked with improving club finances, ensuring sustainability across the leagues and safeguarding things like club colours and badges for future generations of fans. Throughout the entire process fans, clubs and the football authorities have helped develop this legislation. In 2024 alone, over 230 stakeholder meetings took place with Ministers and officials, the majority of those coming after Labour’s general election win.

“Over the coming days, the next stages will get underway in the Lords. Whilst some peers have been constructive, many have put forward amendments that are cynically designed to dither, delay and block its progress, which could see more clubs put in at risk.

“I know that the sight of unelected Tory Peers lining up to oppose a Bill that puts fans back at the heart of the game will sicken many supporters. Suggestions made in the media recently around the impact of the Bill and Regulator simply don’t add up.

“Tenuous claims that the cost of regulation will impact things like a club’s academy development, and by default its long term success, are simply wrong and offensive. Similarly, the arguments against regulating parachute payments just don’t make any sense.

“Football is one of the Great British success stories, and far from weakening our game as some try to have us believe, the Football Governance Bill will help strengthen the game’s foundations, protect clubs and most importantly their fans who are the heart of the game, for generations to come.”

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Time Lewis’s role in Arsenal takeovers past – and future?

Tim Lewis was instrumental in the deals that saw Kroenke first buy into Arsenal in 2007, acquire majority control four years later and, in 2018, take his shareholding to 100 per cent.

Kroenke doesn’t take money out of Arsenal. His strategy for return on investment is instead one of capital growth – buy low, sell high. So, when the time comes, could Lewis help Kroenke sell the club?

We are almost certainly a long way from that juncture at present.

KSE have spent around £1.2bn via equity and soft loans loans to the club. Arsenal’s enterprise value is currently around £3bn, and Kroenke is waiting for a higher exit value.

For Kroenke to get the kind of money that he is looking for, he needs to be able to demonstrate the long-term profitability of the business.

How we he gets there and whether there is a market for the club at whatever price he eventually chooses to cash out at is anyone’s guess.

Better monetising international supporters via new technology – immersive reality, for example – is where most elite clubs appear to be piling their chips.