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Kroenke defends Arsenal ambition after heated AGM

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By Andrew Tuft

Friday 26 October 2012

Stan Kroenke, the American businessman who owns more than two-thirds of the shares in Arsenal, has moved to counteract criticism of the board’s running of the club after he and a number of other senior decision-makers were accused of “ruining the club”, the Guardian has reported.

Stan Kroenke in the directors’ box

The accusation was made at the club’s Annual General Meeting, held in the wake of Arsenal’s midweek defeat in the Champions League by Schalke and the weekend loss to Norwich City in the Premier League. The respective results left Arsenal second in Group B of the Champions League and ninth in the Premier League respectively.

At what the Guardian describes as a “heated” AGM, the board were also accused of putting profit before performance by one shareholder, after it was confirmed the club were in rude financial health yet have not won a trophy since the FA Cup in 2005.

However, chief executive Ivan Gazidis argued that the club’s financial strategy will bear fruit when football’s big spenders are brought into line by UEFA’s Financial Fair Play regulations, while Kroenke said in a statement released on Arsenal’s website: “ I am ambitious for the club and we all share the same goal. I can assure you no one is more ambitious than me. We have an exciting future and our goal is to win trophies.

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