Arsenal: Spotify owner Daniel Ek to present ‘very compelling offer’ to Kroenke family

Arsenal: Spotify owner Daniel Ek to present ‘very compelling offer’ to Kroenke family [ad_1]

Daniel Ek, chief government officer and co-founder of Spotify AB, stands for {a photograph} after a information convention in Tokyo, Japan, on Thursday, Sept. 29, 2016.

Akio Kon | Bloomberg | Getty Images

Spotify owner Daniel Ek says he’s ready for a “long journey” together with his bid to purchase Arsenal and can present “a very compelling offer” to try to persuade the Kroenke family to promote up. 

Swedish billionaire Ek, 38, who has enlisted the help of membership legends Thierry Henry, Dennis Bergkamp and Patrick Vieira, is anticipated to submit his first supply – within the area of £1.8 billion – within the subsequent few days.

The Kroenkes, whose possession got here below renewed opposition following the membership’s participation within the failed European Super League final week, insist they “will not entertain any offer”.

Ek expects the Kroenkes to reject his preliminary supply, however is keen to be affected person in what is probably going to be an extended course of.

Speaking to Sky’s sister station CNBC, Ek mentioned: “I have secured the funds for it and I want to bring what I think is a very compelling offer to the owners and I hope they hear me out.”

Ek, who used Twitter to specific curiosity in a deal final Friday night, says he’s “very serious” together with his takeover bid and needs to “engage the fans again”.

“I just see a tremendous opportunity to set a real vision for the club to bring it back to its glory,” he added.

He has already intimated he could be open to having fan illustration on the Arsenal board if he succeeds in shopping for the membership, together with the potential of giving supporters a ‘golden share’, which would supply veto energy over key choices.

“I just focus on the club, I focus on the fans and I focus on trying to bring the club back to glory,” added Ek, who was talking after Spotify introduced their first quarterly outcomes on Wednesday.

“I am first and foremost a fan, that is the most important thing for me. I want the club to do better. That is my primary interest.”

Ek, who co-founded Spotify in 2006 and is value an estimated £3.2bn, doesn’t contemplate his strategy to purchase the membership as private and was cautious not to criticise the present house owners throughout his tv look.

Stan Kroenke, who owns Kroenke Sports & Entertainment (KSE), has been Arsenal’s owner since April 2011.

KSE additionally personal NFL franchise Los Angeles Rams, NBA aspect Denver Nuggets, NHL outfit Colorado Avalanche and MLS aspect Colorado Rapids.

Arsenal director Josh Kroenke instructed a followers’ discussion board that his family would work tougher to interact with followers extra successfully sooner or later.

Mikel Arteta’s aspect – who’re at present tenth, 12 factors behind fourth-placed Chelsea – successfully want to win the Europa League if they’re to play European soccer subsequent season.

Fans sad with Kroenkes have anyone ‘they’ll rally behind’

Analysis from Sky Sports News reporter Kaveh Solhekol:

“The sceptics were saying this was a publicity stunt. The cynics were saying there is no way this is going to happen. Well, we have heard from the main man himself now. Daniel Ek has made it clear that he is very serious about trying to buy Arsenal, he has secured the funds. We know that Arsenal are valued at, at least, £2bn so it would suggest that he has managed to get that kind of finance together to try and push ahead with this proposed deal.

“He describes it as a really compelling, considerate supply and he’s saying to the Kroenkes, ‘please pay attention to me, I’m going to make this supply within the subsequent few days, it’s going to be put in entrance of you after which it’s up to you to make up your thoughts. He already is aware of that the Kroenkes have mentioned Arsenal will not be on the market. That will not be a shock, after all nobody goes to come out and say their Premier League membership, which is value billions of kilos, is on the market. But in enterprise, as our colleagues at CNBC identified, the whole lot has a value.

“If he can tempt the Kroenkes to sell, then he is ready to move in and buy Arsenal. Long-term, what I think is interesting, is that he himself said he is prepared for a long journey. He is expecting his offer to be rebuffed, he is expecting the Kroenke’s to say to him the club is not for sale. But now he is always going to be in the background. We know he is a real fan, he has been a fan for 30 years. We know now he is close to Thierry Henry, Dennis Bergkamp and Patrick Vieira. He has got the legends on board, and these fans who are unhappy with the Kroenkes now have somebody they can rally behind.”

How might Ek fund Arsenal takeover bid?

Sky News enterprise presenter Ian King tells Sky Sports News:

“I think he was pretty measured, to be honest with you. He did answer all the questions that they put to him on Arsenal. The thing I took away, is that he said look ‘I am not expecting this to be something that is sorted out overnight’. He is not going to try and rush his fences in that sense.

Arsenal’s German-born Bosnian defender Sead Kolasinac (R) plays the ball during the English Premier League football match between Arsenal and Manchester United at the Emirates Stadium in London on March 10, 2019.

Ben Stansall | AFP | Getty Images

“There are quite a lot of questions which might be raised from the interview that he has given to CNBC, one in every of which will likely be he says he has bought the funding, the place has he bought it from and if profitable, on what belongings would the funding be secured? Would they, for instance, be secured on his shareholding on Spotify?

“His wealth actually has been misreported in recent days. I mean the exact detail is that he owns 8 per cent of Spotify and currently Spotify shares have actually fallen by 10 per cent on the New York Stock Exchange (NYSE) this afternoon. The company is currently valued at around $50bn, so he owns 8 per cent of $50bn – around $4bn to be precise. Now we don’t know whether he has got liquid funds in addition to that.

“Don’t neglect, whereas quite a lot of Arsenal followers will likely be retaining their fingers crossed and hoping to see the Kroenke’s out, keep in mind that you’ve seen different takeovers of soccer golf equipment – most notably when the Glazer family purchased Manchester United – quite a lot of that was debt-funded, they did not put up quite a lot of their very own fairness once they purchased that enterprise and accordingly quite a lot of that was secured in opposition to the membership’s belongings and the debt servicing has been an enormous burden, an enormous drain on Manchester United’s coffers through the years.”

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