Arsenal: Kroenke committed for ‘long term’

Arsenal says owner Stan Kroenke has no plans to sell his

majority stake after reports in a British newspaper reported a

Middle East consortium was ready to make a bid of 1.5 billion

pounds ($2.25 million) for the Premier League club.

The Sunday Telegraph said an unidentified group backed by funds

from Qatar and the United Arab Emirates wanted to make a cash offer

to buy 100 percent of the club, and would make substantial transfer

funds available and slash ticket prices. The report said a meeting

had been requested with Kroenke, who owns 66.83 percent of

Arsenal’s shares.

Arsenal communications director Mark Gonnella said Sunday that

”Stan Kroenke is committed to Arsenal for the long term and has no

intention of selling his stake.”

Gonnella added that ”there has been no contact from any

potential investors.”