Stan Kroenke's company KSE UK has released a statement to stress its shares in Arsenal are not for sale at any price amid reports Alisher Usmanov is still keen to take full control of the club.
Alisher Usmanov has made a £1bn bid to buy out the majority shareholder at Arsenal, according to Sky sources.
With Usmanov now owning 30 percent of the club with a personal fortune of around £11.2bn, he evidently has the means to make his ambitious plan a reality, but as noted by Ornstein in the tweet below, Kroenke doesn't sound as though'll be loosening his grip on the club any time soon.
Usmanov would have known when making his $1.3bn offer- revealed by the Financial Times on Friday - that the U.S. sports mogul Kroenke would be unwilling to sell.
Kroenke's son Josh is on the club board and is a long-serving Premier League fan.
American business entrepreneur Kroenke has been involved with Arsenal for the past decade, with the 69-year-old taking his stake in the club from 12% to 67% during that time.
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Arsenal may have come up short in the Premier League, but could yet win what would be a third FA Cup in four seasons when they take on Chelsea at Wembley on Saturday.
However, he blamed the uncertainty over his future for contributing to the club failing to qualify for the Champions League.
Yet Kroenke, who owns 67%, after gradually building up his holding since 2007, is unwilling to contemplate the deal.
Wright says something has to change, whether it is the manager Arsene Wenger or whether it is the board upstairs. At the very least, the bid may put pressure on Kroenke - a remote figure rarely seen at the Emirates - to find a bold way of demonstrating to supporters that Arsenal's decline can be turned around.
Wenger's current contract expires at the end of the season and he is believed to be resistant to the club's plans to appoint a director of football. Does Kroenke and Wenger both need to go?