Deals
Kroenke to Buy Rest of Arsenal, Ending Tycoons' Soccer Duel
- Usmanov had criticized Kroenke’s stewardship of London team
- Arsenal struggled in recent years, missing Champions League
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The majority owner of Arsenal soccer club agreed to buy Russian billionaire Alisher Usmanov’s stake in a 602.4-million-pound ($781.1 million) deal, ending a dispute between the tycoons over management of the London Premier League team.
American billionaire Stan Kroenke will make an offer to acquire all the shares in Arsenal Holdings Plc, he said Tuesday. Usmanov agreed to tender his 30 percent stake in a deal that values the club at about 1.8 billion pounds. Kroenke already owns about two thirds of the company.