A statement to the London Stock Exchange says Stan Kroenke is buying out the other major shareholders of Arsenal Holdings at £11,750/share.
This values the club at £731m.
Kroenke’s offer for the remaining Arsenal shares is automatically at the highest price he has paid on a single transaction over the past year, which is understood to be the £11,500 he has agreed with Fiszman (16.1%) and Lady Bracewell-Smith (15.9%).
Under Takeover Panel rules, Kroenke is now compelled to make an offer for the remaining shares.
Having over 50% of the shares, Kroenke will have the power on appointment of directors and board decisions, including future managers.
He needs over 75% for major capital restructuring. And 90% for the remaining shareholders to sell. All of which leaves Usmanov and Red & White Holdings in an interesting position, holding 27%.
If Red & White Holdings holds on then the company has to remain on the Stock Exchange.
One scanario is Kroenke owning 89% with minority owners the remainder, as the American is keen on supporter ownership.
This is an evolution rather than a revolution, with Kroenke already a board member and with a solid working relationship with Ivan Gazidis and Arsene Wenger.
Kroenke is known to support the self sufficiency business model and his company believes in putting the right structures in place, allowing the sports side to flourish. None of his teams have been saddled with debt.
The most likely outcome in the shorter term is a sharpened commercial focus.