Arsenal 'facing sport's biggest takeover'
Arsenal football club may be bought out by a Middle East group for 1.5 billion pounds (US$2.3 billion), the sport's biggest takeover, the United Kingdom Telegraph reported, citing an unidentified person in the group.
- Published: 3/03/2013 at 12:20 PM
- Newspaper section: breakingnews
The cash offer for all of the 62,217 issued shares would include about 830 million pounds for U.S. owner Stan Kroenke’s 66.83% stake, according to the report. The bid, more than twice the amount that Arsenal was valued at two years ago, will be backed by funds from Qatar and the United Arab Emirates, the Telegraph reported.
The money would enable the club to pay back its about 250 million pounds of debt, the Telegraph said, citing Arsenal's last full-year financial results.
About the author
- Writer: Bloomberg News
- Position: News agency