Jeremy CorbynGETTY IMAGES
U.K. Labour Party Leader Jeremy Corbyn "added his voice to the opposition" to Stan Kroenke’s full takeover of Arsenal, according to Jeremy Wilson of the London TELEGRAPH. Kroenke agreed to a £550M ($707M) deal to buy the 30% stake of fellow billionaire investor Alisher Usmanov and has "already outlined his intention to then exercise his option for the compulsory acquisition of the remaining shares," many of which are held by individual fans. The Arsenal Supporters' Trust previously launched a "fanshare" scheme that "encouraged supporter ownership." Corbyn, who is an Arsenal fan and the MP for Islington North, backed the stance of the AST, which fears Kroenke's move "will reduce accountability and transparency over key decisions." He said, "It’s a real shame that this sale will bring to an end the long-standing official role of Arsenal supporters in the running of the club." Kroenke has pointed out that 18 of the 20 Premier League clubs are already privately-owned and "stressed his intention to keep the club’s current board and not use the club to secure the finance for his purchase" (TELEGRAPH, 8/8).
