Arsenal deny bid has been made
Arsenal chairman Peter Hill-Wood denies any knowledge of a proposed takeover bid from a Middle-East consortium group.
It emerged in the media this weekend that a consortium group made up of people from Qatar and the United Arab Emirates were proposing a £1.5bn takeover deal in the summer that would see the Gunners completely bought out.
The consortium were hoping to buyout investors Stan Kroenke and Alisher Usmanov, but they were open to working with Usmanov if he refused to sell.
Peter Hill-Wood thinks both businessmen are likely refuse the offers made by the consortium and when asked by Sky Sports about a possible takeover he said it was a ‘Waste of time’.
“I have heard nothing and I don’t think anybody knows anything about it at the club.
“It all seems a bit of a waste of time.
“If there is this consortium, they can’t make any progress unless they attempt to get in touch.
“So I can’t say if there is anything to it or not.
“But even if they did make an approach, my understanding is our two major shareholders do not want to sell.”
Arsenal rarely speak publicly and this is the first time they have addressed the issue of a possible sale.
There is huge unrest amongst supporters and they are growing very impatient with the club and Stan Kroenke in particular.
Kroenke has investments in 5 or 6 different sports clubs and despite them being financially viable they have had little success since he has been involved.
Supporters are becoming more open to the idea of someone buy him out of the club.