Stan Kroenke announced today the unconditional purchase from ITV plc of its 9.99 percent shareholding interest in Arsenal Holdings plc, and that his organization has also entered into conditional arrangements with ITV plc in relation to the sale of its 50 percent shareholding in Arsenal Broadband Limited.
The Arsenal Holdings shares were purchased at ?6,800 per share. The combined consideration for the two transactions, if completed, is ?65 million.
Mr. Kroenke is owner of the NBA's Denver Nuggets, NHL's Colorado Avalanche, National Lacrosse League's Colorado Mammoth and the Colorado Rapids of Major League Soccer, and is co-owner of the NFL's St. Louis Rams.
"Because of our long-time involvement in major sports, we greatly admire Arsenal Football Club, its rich history and traditions," Mr. Kroenke said. "Arsenal is one of the most respected sports clubs in the world, and we've been very impressed with the commitment of its supporters."
In January Kroenke Sports Enterprises and the Colorado Rapids formed a significant marketing and strategic alliance with Arsenal Football Club, reinforcing their considerable effort in expanding soccer in the United States.
Today's announcement comes as KSE prepares to unveil one of its most ambitious development projects to date. On Saturday, April 7, the Colorado Rapids will kick off the 2007 MLS season at the just-completed Dick's Sporting Goods Park, one of the largest soccer complexes in the world, with 24 youth fields adjacent to a state-of-the-art stadium. - SOURCE: Oursportscentral.com
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