Majority Shareholder Stan Kroenke Not Ruling Out Arsenal Payout
Arsenal majority shareholder Stan Kroenke "declined to rule out introducing a dividend policy, as the club’s directors struggled to contain fans’ anger at the team’s trophy-less record of recent years and indifferent form this season," according to Roger Blitz of the FINANCIAL TIMES. Kroenke made "a rare public appearance" at the club for its annual meeting, telling shareholders that there was "money available for transfers and that it would reinvest in the team’s playing squad." Kroenke declined to answer if shareholders "would be able to draw dividends -- which supporters oppose." Kroenke said: “This club is run through the board. I have always been respectful of that process.” The Arsenal Supporters’ Trust, which represents small shareholders, said that "one of its founding principles was that money should not be taken out of the club." The Arsenal Supporters' Trust said: “We are very alarmed that Stan Kroenke is refusing to commit to upholding this policy, and we will ask Arsenal for a clear statement on this” (FINANCIAL TIMES, 10/25).