Arsenal fans refuse to sell shares to Stan Kroenke

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The Arsenal Supporters' Trust has voted not to sell its shares to prospective new owner Stan Kroenke, who has tabled a mandatory offer for full control of the club.

The Trust voted unanimously to reject the offer, which values each share at £11,750, preferring to retain its stake in the club.

An AST spokesman said: "Arsenal is too important to be owned by any one man."

The US businessman now ownssecured more than 62% of the club's shares.

The Arsenal board has recommended all shareholders accept Kroenke's offer but at a meeting of more than 100 AST members, a decision was taken not to relinquish their involvement in the club's ownership structure.

The spokesman added: "The Trust wants to work with Stan Kroenke to keep Arsenal supporters involved in the club's ownership structure.

"The AST and the Arsenal Fanshare scheme will not be selling the shares it owns and urges all supporters to reject this offer.

"In just six months, the Arsenal Fanshare scheme has gained 1,800 members, who have invested £500,000 in Arsenal shares.

As a lifetime Arsenal supporter, this really gladdens me. I like the idea of Kroenke taking a majority shareholding and being able to put in his expertise and cash, but at the same time it is great that we have a supporters trust that owns part of the club and can curb some of the excesses that have hit other clubs like Chelsea, Man City, Liverpool, Man United. Arsenal have consistently made a profit whilst still remaining one of the top clubs in England. The only thing missing in recent years has been trophies, and I hope that, with Kroenke's influence, that too, can be attained.