David Dein is out - or how I learned to stop worrying...

[Bighorn]

and love American sports moguls.

[Detlef]

and love American sports moguls.
Bill Wirtz? Michael McCaskey? Jerry Reinsdorf? The Tribune Company?
Brutal, one and all. :(

[kanonier]

well, i DO love mark cuban...

http://www.lakechampion.org/cuban.jpg

[Bluto11]

Bill Wirtz? Michael McCaskey? Jerry Reinsdorf? The Tribune Company?
Brutal, one and all. :(
Reinsdorf ain't THAT bad

[CRASH 4 ARSENAL]

Bill Wirtz? Michael McCaskey? Jerry Reinsdorf? The Tribune Company?
Brutal, one and all. :(

Our city is awesome.

[Detlef]

Reinsdorf ain't THAT bad he ain't that great either. And yes, I am grateful for the 2005 White Sox. Just like I am ungrateful that Reinsdorf let Crumbs Krause run the Bulls into the ground after Michael Jordan retired.

[CRASH 4 ARSENAL]

well, i DO love mark cuban...

Are you serious?

Because I do like him a lot. Wish he would buy a team I support.

[Gunners11]

Are you serious?

Because I do like him a lot. Wish he would buy a team I support.

THE CUBS!

[CRASH 4 ARSENAL]

THE CUBS!

Exactly.:cool:

[GunneRy]

Exactly.:cool:
Here, here!

[Bluto11]

my biggest beef is the amount of debt that will be taken out. If, and I mean if, nothing changes with Kroenke (he stays out of the way and lets Dein or whoever control things, much like Fitzman now) why does it need to happen? only thing that will change is that Arsenal will be in massive debt.

secondly, what are the England based posters thoughts on Dein moving the club to Wembley instead of having AG built? I ask because there is lots of talk about the club losing it's soul and traditions if Mr Burns succeeds in his takeover, but woulnd't Arsenal moving to the new Wembley have done just that? And it was Dein's idea!

[antifan]

I don't see why the Kroenke coming in would force massive debts on the club. Can't DD and Kroenke take control without having to buy out all the shareholders? If Kroenke owned just less than 30% but had Dein with him wouldn't they effectively control the club?

[Bluto11]

I don't see why the Kroenke coming in would force massive debts on the club. Can't DD and Kroenke take control without having to buy out all the shareholders? If Kroenke owned just less than 30% but had Dein with him wouldn't they effectively control the club?
how much money is he going to have to borrow to get up to 30%

and how would 30% control the club? If other shareholders are 70% they would have more control, i think

[Gunners11]

how much money is he going to have to borrow to get up to 30%

and how would 30% control the club? If other shareholders are 70% they would have more control, i think

I really know nothing about business but is it possible for him to be the majority shareholder if he owns 30% and no other shareholder owns more then him? Does it work that way or no?

[arsenalgirl30016]

I really know nothing about business but is it possible for him to be the majority shareholder if he owns 30% and no other shareholder owns more then him? Does it work that way or no?
I think 30% is the minimum you need to start takeover proceedings...

[antifan]

how much money is he going to have to borrow to get up to 30%

and how would 30% control the club? If other shareholders are 70% they would have more control, i think
The current board owns about 45%. Fiszman seemingly controls the club owning under 30% I don't see what the difference would be. I don't see why Kroenke would be forced to take on highly leveraged debts, he and his wife together are worth 4.7 billion dollars, i'm guessing they have a pretty good credit rating. I figure 25% stake in the club is worth 100-150 million pounds. So 200-300 million dollars?

[Bluto11]

The current board owns about 45%. Fiszman seemingly controls the club owning under 30% I don't see what the difference would be. I don't see why Kroenke would be forced to take on highly leveraged debts, he and his wife together are worth 4.7 billion dollars, i'm guessing they have a pretty good credit rating. I figure 25% stake in the club is worth 100-150 million pounds. So 200-300 million dollars?
Fitzman also has a healthy relationship with the other shareholders, right now Kroenke wouldn't have that

[DougG_ATL]

Bill Wirtz? Michael McCaskey? Jerry Reinsdorf? The Tribune Company?
Brutal, one and all. :(

A blistering indictment of Chicago sports ownership, indeed. Luckily, it's not that horrible in most other cities. Local to me, the Atlanta Falcons owner Arthur Blank puts a lot of money and priority into the team and the ownership group Atlanta Spirit (when they're not fighting each other) actually spent cash on the Thrashers this year.

I wish that more sports clubs would open up ownership to a wider base, where fans could buy in and have some say in the direction.

[antifan]

Fitzman also has a healthy relationship with the other shareholders, right now Kroenke wouldn't have that
But he would have Dein on his side.

[Rick B]

The current board owns about 45%. Fiszman seemingly controls the club owning under 30% I don't see what the difference would be. I don't see why Kroenke would be forced to take on highly leveraged debts, he and his wife together are worth 4.7 billion dollars, i'm guessing they have a pretty good credit rating. I figure 25% stake in the club is worth 100-150 million pounds. So 200-300 million dollars?

JP people are confusing the 30% figure. All that is is a figure that the stock exchange here says they have to offer to take over the rest of the shares. The rest of the board have 45%. The minor shareholders have 19%. That majority means that Kroenke does not control the club and won't until he can get to over 50%. It isn't the case that the biggest shareholder controls the club - it doesn't work like that.

Re him taking on debt, I put this in the previous thread but have pasted it below as well. You cannot take anything his wife has into account.

Ok lets look at it realistically for two minutes. He is valued at $2.2Billion. Thats about £1.1Billion as we are an English club so lets talk in Sterling for the sake of this argument.

(we have to forget his wife's fortune here).

Now for arguments sake lets take the valuation of Arsenal at the share price he paid ITV. (remember the official price he paid was £6,800 but he also vastly over paid for Arsenal Broadband of which he bought a 50% stake. Which means that take the real valuation of Arsenal Broadband into condsideration he actually paid between £8,000 and £8,800 per share. He did this so as to get around city take over rules which would mean he has to pay the top price for any remaining forced shares he paid in the past 12 months). Therefore the real valuation is about £500Million. Thats just under half his fortune.

Kroenke's wealth is made up mainly of the following assets:

Through the Kroenke Group business, he has extensive real estate holdings, including shopping centers, often next to Wal-Mart outlets. He is the chairman of THF Realty, an independent real estate development company.

As the head and owner of Kroenke Sports Enterprise, Kroenke is a co-owner of the National Football League's St. Louis Rams, and a full owner of the National Basketball Association's Denver Nuggets, National Hockey League's Colorado Avalanche, Arena Football League's Colorado Crush, National Lacrosse League's Colorado Mammoth, Major League Soccer's Colorado Rapids. Kroenke Sports Enterprise also owns the Pepsi Center in Denver and the Altitude Sports and Entertainment cable channel, and co-owns Dick's Sporting Goods Park in Commerce City, Colorado.

THIS DOES NOT MAKE HIM CASH RICH UNLESS HE HAS SAID HE WILL DISPOSE OF SOME OF THESE TO AFFORD ARSENAL

Therefore to all intents and purposes there is no way he can possibly afford to buy Arsenal without using finance. He is not Abrahamavich who has a couple of billion sitting in his current account......................