Friday Update

By: travis | September 19th, 2008

It’s the end of the work week for most and as it winds down, Arsenal prepares for another match, this time away against Bolton. Never an easy place for us to play in, it’ll be a tricky fixture no doubt. Before I get to a preview, there’s a lot of chatter around these parts about Arsenal.

First up is the announcement that Stan Kroenke is joining the board at Arsenal. This is a basic attempt at thwarting a takeover by oligarch Alishar Usmanov, who many Arsenal fans have taken a particular disliking to. While not going there, the appointment of Kroenke is a real about face for the board, who once remarked that the board did not want “his sort” to join them. However, he’s there as a safety net against Usmanov, and he’ll serve this function:

Kroenke has agreed not to increase his stake beyond 29.9% of Arsenal’s share capital in the next year unless a takeover bid is launched by Usmanov or another party, in which case he could do so with the consent of the board.

If Usmanov moves in, Kroenke buys. That’s how I see it. Obviously, the board trusts the American billionaire over the Russian. It won’t be until next year that this will matter, as the board has signed an agreement not to sell any shares in the club until April 2009. Stay tuned for more.

In other Arsenal-business news, club pre-tax profits jumped up to £37m thanks to the Emirates Stadium, I would say. The money is there for Arsene, it would appear. I would be surprised if no one is bought in the next transfer window.

All in all, these business transactions only affect the club so much. There are still matches to be played and competitions to be decided on the pitch. I wonder if the likes of Theo Walcott or Cesc Fabregas care who is in charge of the club? I would guess not really – although depending on whether or not a new owner forced the resignation of Wenger. A complete preview of tomorrow’s match will follow later.