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Last Updated: Thursday, 25 October 2007, 12:03 GMT 13:03 UK
Kroenke cagey on long-term plans
Arsenal
Stan Kroenke says he has no problem with the Arsenal board's agreement not to sell their shares but he remains non-committal about his future plans.

The American billionaire has a 12.2% stake in the Gunners but the club have a 'lock-down' agreement in order to resist any takeover attempts.

"I certainly don't have any problem with the lock-down," said Kroenke.

"This is a long-term, strategic investment for us. These things take a lot of time and effort to develop."

Kroenke described his relationship with the Arsenal board as a "partnership".

He added: "We showed them we are long-term investors. We do things for very specific reasons. We think they're good reasons."

606: DEBATE

Kroenke was thought to be preparing a takeover attempt when he acquired his stake in the club earlier this year.

However, Arsenal have since been targeted by Russian Alisher Usmanov, who has built up his share to 23% in recent months.

In response, members of the Arsenal board reached an agreement that directors can only sell their shares to "permitted persons" before April 2009 and must give fellow board members first option until October 2012.

Kroenke's purchase of Arsenal shares led to David Dein's resignation from the Arsenal board in April.

Dein was reported to support any takeover attempt by Kroenke, but other board members disagreed.

The club's former vice-chairman has since taken over as chairman of the Red & White Holdings Consortium - which is co-owned by Usmanov.

Kroenke refused to comment on his current relationship with Dein.

SEE ALSO
Arsenal move to prevent takeover
18 Oct 07 |  Arsenal
Usmanov aims to up Arsenal stake
21 Sep 07 |  Business
Usmanov ups the ante at Arsenal
18 Sep 07 |  Arsenal
Arsenal not for sale - Hill-Wood
10 Sep 07 |  Arsenal
Arsenal being left behind - Dein
02 Sep 07 |  Arsenal
Arsenal shareholder stands firm
23 Jul 07 |  Arsenal
Kroenke eager for Arsenal talks
19 Jul 07 |  Arsenal
Arsenal chairman snubs US buyer
18 Apr 07 |  Arsenal


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