Arsenal majority shareholder Stan Kroenke is to face "tough
questions from minority shareholders at Thursday's annual general
meeting" over a £3M ($4.8M) payment from the club to his holding company, according to Owen Gibson of the London GUARDIAN. As well as that payment, "revealed in recent accounts and
paid to Kroenke's company for advisory services, there is also disquiet"
over the fate of the Fanshare scheme and "ongoing issues over player
recruitment." While the AGM is expected to be "less fractious than some
over recent years, given the loosening of the Emirates purse strings to
bring in the likes of Alexis Sánchez and Mesut Özil, the board will face
tough questions from fans on a range of issues." Further ticket price increases have also "generated ongoing bad feeling
among some fans and Kroenke and the board will also be asked to confirm
there will be no further increases next year" (GUARDIAN, 10/13). In London, Jeremy Wilson reported the Arsenal Supporters' Trust has requested a "specific breakdown of the services that were provided" by KSE -- the company that controls Kroenke's sports teams in the U.S. -- for its £3M payment and whether there was a "competitive tender for those services." It also "wants to know if the payment is likely to be a one-off or a regular outgoing in the club's annual accounts." There will "also be a focus" on Manager Arsene Wenger's summer transfer dealings and "record against the very best clubs," with one question asking whether the board withholds "cash reserves from the manager and, if not, then why are we so short of defensive players?" (TELEGRAPH, 10/13).
