Consortium reveals Arsenal takeover plans
An unnamed Middle East consortium is targeting a staggering £1.5billion takeover of Arsenal, according to the Guardian.
The bid source, who did not want their identities revealed, told the Sunday Telegraph: “Arsenal is at a pivotal position at the moment. The fear is that the club is facing a cycle of decline like Liverpool.
“From our point of view it is the perfect moment to make this bid because at this moment in time you can still genuinely justify this extraordinary valuation on the club.
Should the plans be serious, Arsenal could follow the likes of PSG, Manchester City and Malaga to have received serious investment from the Middle East.
Current main shareholder Stan Kroenke would be offered around £830m for his shares in the club, a profit of £400m when he assumed majority control in April 2011.
The future of manager Arsene Wenger would be placed in further doubt, although the Frenchman is believed to be highly rated by the consortium.
That might not matter if the Gunners lose the north London derby to Tottenham this afternoon. Defeat would put them seven points behind their local rivals, and in major danger of finishing behind Spurs in the top flight for the first time since 1995.
Promises offered to the fans by the prospective owners would include wiping out the debts of the club and reducing the often criticised ticket prices at the Emirates Stadium.
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