Last week Kroenke submitted formal documents for his proposed £730million takeover offer for Arsenal, having taken his holding up to 63% by buying stakes from the late Danny Fiszman and Lady Nina Bracewell-Smith. Kroenke Sports Enterprise (KSE) now have a controlling interest in the Gunners' parent company, but the American sports tycoon would need to buy the 27% stake owned by Red & White Holdings - backed by Uzbek oil magnate Alisher Usmanov - and the shares held by the AST to complete a full takeover. The AST's membership consists of around 1,000 shareholders and supporters. Last year they set up Arsenal Fanshare - a group which has seen 1,800 fans buy a small stake in the club totalling an investment of more than £650,000. The AST insist they are not against Kroenke's interest in Arsenal, but they simply are opposed to one person having control of the whole club. "The AST believes that Arsenal is stronger when supporters are represented in its ownership structure," read the letter to the 1,500 Arsenal shareholders. "This arrangement means we can ask questions at an AGM and scrutinise the official report and accounts, something the AST has gained a reputation for doing with clarity and expertise. "We also think that having supporters involved in the ownership helps to give the club a real sense of 'belonging' and acts as a check and reminder to those that run the club that its most important asset is its supporters. "The AST has established a role as a role as a watchdog of the club and there are numerous examples of where we have influenced policy and also ensured that the views of fans are listened to." Shareholders have until May 27 to decide whether to accept Kroenke's offer.
