Now that the season has ended and Arsenal are once again Premier League champions, I thought it would be interesting to look back at the history of Stan Kroenke and his involvement with The Arsenal and ask the question: are we lucky to have him as the sole owner of our club?
The answer to that question may depend on when you became an Arsenal supporter, because there have certainly been some turbulent moments during the Kroenke era. However, looking at where the club stands today compared to where it was just a few years ago, there is certainly a strong case to be made.
From Minority Shareholder To Sole Owner
It all started back in 2007 when Stan Kroenke bought 9.9% of Arsenal shares from an ITV consortium.
Then, in 2011, he became the majority shareholder after buying the shares of Danny Fiszman and Lady Bracewell-Smith, bringing his total stake to 62.89% and giving him operational control.
The final step, after a power struggle with Alisher Usmanov and David Dein, saw him buy their shares and take Arsenal into private ownership in 2018. The club was valued at around £600 million and was subsequently removed from the stock market.
What followed was a string of negative situations, culminating in the fiasco of the European Super League in April 2021.
Having seen players such as Mesut Özil and Pierre-Emerick Aubameyang have their contracts terminated and paid off to leave the club, while Arsenal finished eighth in consecutive seasons, the decision to join the ESL was viewed by many supporters as the latest betrayal and the final straw.
Mass demonstrations outside the Emirates saw the emergence of Josh Kroenke, who apologised and insisted that the club was not for sale despite interest from the likes of Daniel Ek.
He assured the fanbase that his father was committed to taking Arsenal back to the top and asked for time and patience while the rebuilding process took place.
(Photo by Leon Neal/Getty Images)
What happened from 2021 onwards was a revolution at the club, both on and off the pitch, as the commitment to rebuild our club began to take shape.
There was a renewed effort to connect with the fanbase by listening to supporters’ concerns, while the manager and players were given time to prove themselves. Most importantly, Mikel Arteta was backed financially with the kind of investment required to compete with Manchester City, Liverpool, Chelsea and Manchester United.
A new backroom team was assembled, including the likes of Tim Lewis, while a supporters’ committee was also formed to provide feedback and raise concerns directly with Josh Kroenke.
Big names were sacrificed, staff were controversially made redundant during the Covid period, but throughout all this turmoil the ownership remained loyal to the project and continued backing our novice manager, not only with words but with significant financial investment.
It has been reported that Arsenal spent around £95 million on transfers in 2021/22, followed by £187 million in 2022/23. We also saw the club smash its transfer record when Declan Rice arrived for a reported £105 milliondespite interest from several other major clubs.
Money was also invested into the women’s team, while discussions regarding improvements to the Emirates Stadium continued.
A Promise Delivered
Of course, the ultimate prize of becoming Premier League champions was finally achieved at the end of this seasonwhile Arsenal also came agonisingly close to adding the Champions League title.
It is now reported that the club is valued at around £3 billion, while Arsenal possess one of the most valuable squads in world football.
Compare that valuation with the reported £600 million figure when Mr Kroenke became sole owner.
Yes, it has been a bumpy ride.
A ride that tested the patience and loyalty of every single Gooner.
But winning the Premier Leagueseeing an estimated crowd of over one million supporters attend the open-top bus paradeand witnessing the millions of Arsenal fans celebrating around the world shows just how far the club has progressed under the ownership of “Silent Stan” Kroenke.
I honestly cannot think of another owner who has transformed a football club in quite the same way.
Thank you, Stan and Josh, for keeping your word.
And I am confident that the success will continue.
What do you think, Gooners? Has Stan Kroenke earned the trust and gratitude of the Arsenal fanbase, or do you still have reservations about his ownership? Let us know your thoughts in the comments below.
ken1945
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