Arsenal's majority shareholder, Stan Kroenke, has made an offer to buy the whole of the club in a deal that would value the Gunners at £1.8bn.
Kroenke is the majority shareholder at the Emirates Stadium but has now made an offer to buy Alisher Usmanov's 30 per cent stake in the club, thus giving him full control.
Usmanov has made a number of attempts to buyout Kroenke's share, but will now receive £550m ($712m) for his stake.
A statement from Kroenke read: “We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.
“We appreciate Mr Usmanov’s dedication to the Arsenal Football Club and the storied ethos and history the Club represents.”
Kroenke's company, KSE, added: "KSE UK is pleased to announce the terms of its all-cash offer to acquire the entire issued and to be issued ordinary share capital of Arsenal Holdings PLC other than the Arsenal Shares already held by KSE.
"KSE, a Delaware corporation wholly-owned by Mr E. Stanley Korenke, currently holds 41,743 Arsenal Shares, representing approximately 67.09 per cent of the existing issued share capital of Arsenal."
Kroenke first took a share in Arsenal in 2007, and has gradually grown his share in the club, which currently stands at 67%.
The sports mogul, who has a net worth of $8.1bn (£6.13bn), will pay £29,419.64 in cash for each share.
F00tballFans
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zeoabilmyz
39
When you have 67% controlling package of a club in your pocket , and 33% to deal with and assume total control , it's easy to believe your dream will come true . In this case, i think Kroenke sooner or later will achieve his desired goal , but how this move will negatively or positively affect London club is yet to be ascertained much later. Gunners keep blazing !!!!