Arsenal in the dark on Gulf takeover bid reports
LONDON (AFP) - Arsenal have had no contact over a potential takeover, sources told the Press Association on Sunday, amid reports of a looming record bid by a Gulf consortium.
Reports in British newspapers suggested that an investment group backed by funds from Qatar and the United Arab Emirates were preparing a £1.5 billion (S$2.8 billion) bid for the English Premier League club.
However, sources close to the Gunners' board told Britain's PA domestic news agency that there had been no approach - informal or otherwise - to the US owner Stan Kroenke, who has no intention of selling his controlling stake and remains "in it for the long term".
Kroenke pushed through his £430 million-plus takeover in April 2011, and now holds 66.83 per cent of the club, giving him overall control. Uzbek oil magnate Alisher Usmanov remains Arsenal's second largest shareholder with a 29.96 per cent stake, but does not currently have a seat on the board.