By ’Tayo Amosu
September 26, 2014
Arsenal’s majority shareholder, Stan Kroenke has reportedly been paid a sum of £3m from the club’s account and this has sparked some anger among the Gunners fans.
The American has always suggested he would not take dividends as he has never taken a dividend from his NFL team, St.
Louis Rams and NBA’s Denver Nuggets.
However, it has now been revealed that Kroenke’s company, KSE LLC received a payment of £3m from Arsenal, though the money is quoted as been for ‘strategic and advisory services’.
The Arsenal fans’ outrage is borne out of the fact that the 3 % increase in season ticket this season amounts coincidentally to £3m.
This has brought some insinuations that it is the exact £3m that was scooped from the fans that was paid to Stan Kroenke’s company.
In three weeks, the Arsenal Annual General Meeting (AGM) would hold and the fans would have an opportunity to voice their grievances on the matter.
Arsenal fans pay the highest price for an average ticket of any Premier League club and this may just come to them as a total rip-off from the American.
Alisher Usmanov had criticized the Arsenal’s financial and development model under Kroenke’s leadership in the past, despite being the second largest shareholder.
The billionaire had criticized the decision by the board to fund the building of the Emirates Stadium with long term debt was and said it was certainly not about self-financing.
He held a position which seemed to be concerned about the fans and how the policy of paying up debts using instruments like tickets sales would affect them. Usmanov though his media assistants said: ‘‘As a consequence of this policy, which is dressed up as prudent financial planning, it is down to our manager, and not the shareholders , to have to deal with the club’s tight finances, carry the burden of repaying the stadium debt by selling his best players and having to continue to find cheaper replacements. All of that, naturally, comes at the expense of performance on the pitch’’.
Though Usmanov and many supporters that hold his view have now subtly turned around to heap praises on the direction of the club under Kroenke, the anger of the fans may be aggravated as they remember the billionaire’s initial criticism of the Kroenke led board and Ivan Gazidis led administration.
After the settlement of the debts accrued from the Emirates Stadium construction, it is very puzzling for the average Arsenal fan as to why they have to be subjected to another hike in ticket prices.
If it was understandable to the neutrals that the club had to increase ticket fares as a result of Arsenal’s previous financial position, then it should be very questionable why when the club’s financial position changed to a better and wealthier one, the average fan has to pay even more. On that premise, the £3m paid to KSE LLC must be explained and addressed convincingly enough for there not to be a revolt by British Arsenal fans.
The club must now come out and clear the air on this issue that is capable of affecting Arsenal as a global brand because the fans all over the world and their support are the very essence of why the club has attained its global prominence in football.
News that would emanate from this issue too may so much affect Arsenal therefore, an urgent approach and response is needful by the North London side to allay all fears and quell all impending uproars!
