(WFI) Stan Kroenke has assured Arsenal fans that money will be made available to spend this summer as the club attempts to end their trophy drought of six years next season.
The American business tycoon last month bought additional shares in the club to aquire a near 63% controlling interest in the parent holding company, and he is in the process of acquiring the shares of Lady Nina Bracewell Smith and the late Danny Fiszman to take his stake in the company to 66 per cent.
The Premier League gave their approval to the takeover on Sunday, and Kroenke Sports Enterprises (KSE) has given 14 days’ notice of the closure of the unconditional offer to shareholders.
Kroenke has signalled that he will make the funds available to make sure they do not have a repeat of the season just ended where Arsenal failed to land any major silverware.
“The club has funds to invest and will do so wisely. Our constant aim will be to compete for silverware and championships,” he said in a statement.
The Gunners once again failed to make their season count after at one point being in the running for four trophies. They lost unexpectedly to Birmingham City in the Carling Cup.
Kroenke added: “The long-term health of the club is of utmost importance and the board, chief executive, manager and the wider team will be working hard to achieve success for the club and our fans.”
While his comments will be of some reassurance to Arsenal fans, most of their concerns over finances focuses on the prices for tickets. Next season they will be the most expensive top-price ticket in the Premier League. A protest was held before the penultimate match of the season against Aston Villa in which fans marched decrying the 6% increase of ticket prices for next season.
But Kroenke has moved quickly to assure supporters that Arsenal have a healthy future, both on and off the field.
“Arsenal is not about one shareholder, one player or one fan. It’s a special institution and we look forward to celebrating that further during the 125th anniversary year of the club,” he added.
Arsenal now join Kroenke’s sporting portfolio which also includes American outfits the St Louis Rams of the National Football League, the Denver Nuggets of the National Basketball Association, the Colorado Avalanche of the National Hockey League and the Colorado Rapids of Major League Soccer.
By INSIDER’s Christian Radnedge
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