Majority shareholder Stan Kroenke said English Premier League giant Arsenal has "all the elements for success," including a "wonderful manager" in Arsene Wenger.
The Denver-based sports magnate, who joined the Arsenal board in 2008 before seizing a controlling stake earlier this year, made few public statements over his vision for the club before appearing Thursday at the Annual General Meeting at the Emirates Stadium.
Kroenke, whose empire includes major interests in the Denver Nuggets and St. Louis Rams, spoke openly to shareholders, explaining the reasons for his investment and outlining his plans to remain with the "wonderful club" for a long time.
"We are involved extensively in sports in the United States and had lots of opportunities to involve ourselves in lots of clubs around Europe and in the [English] Premier League," Kroenke said. "We did not have an interest, but as we became involved with Arsenal in a commercial undertaking in Denver, I became more interested. Arsenal has all the elements that you need to have success in this kind of business."
Kroenke explained, "[The club] has tremendous management at the top, a wonderful manager on the pitch who makes great decisions in regard to personnel and a tremendous following with the supporters. With all those things in place, it was an easy decision for us to get more involved. We are glad to be here, are happy with the direction of the club and are here for the long term. We love London, you had better get used to seeing us, because we will be around."
On the field, Arsenal has recovered form after a terrible start to the new season and booked its place in the quarter-finals of the Carling Cup this week with a seventh win in its last eight games.
Despite celebrating 15 years as Arsenal manager this season, Wenger has endured one of the most testing spells of his tenure over the past few months, but he insisted at the AGM that the supporters must not lose their faith.
"To stay at the top, top level we have to stay united," Wenger said. "That does not mean I am not to be criticized, or the board -- we accept that -- but we have to show to the outside we are united. If you are not, then you have no chance."
