Arsenal majority shareholder Stan Kroenke is set to buy the whole club in a deal that would value the gunners at 1.8 bn Euros.
This was after Russian billionaire Alisher Usmanov agreed to sell the 30% stake he owns at arsenal to the American billionaire.
Usmanov reached the agreement to sell his 30% shares to the majority shareholder after a tough bid.
Kroenke owns 67% of Arsenal through his KSE Company and had announced on Tuesday that he was interested in buying the rest 0f the shares.
Usmanov has confirmed the agreement by saying he is okay to part with the 30% stake in the club.
“I have decided to sell my shares in Arsenal, which could be the best football club in the world”,he said.
Despite his shareholdings, Usmanov is not part of the board for decision-making at arsenal.
Kroenke’s offer to shareholder values the gunners at 1.8bn euros .acquiring Usmanov’s shares for 550m euro means remaining shareholders will definitely sell theirs to Kroenke.
Reports from KSE says that by Kroenke taking over will help Arsenal further to strategize and better the ambition of the club.
KSE went further by saying that since 2011 arsenal has invested in major transfers, player contracts, and many other important things.
At the moment arsenal is under Unai Emery as the new manager who took over from Arsene Wenger after 22 years of mixed performance at the club. During 2017-2018 season, Wenger managed to finish 6th on the premier league standings therefore missing out to qualify for champions league.