- Associated Press - Friday, May 6, 2011

LONDON (AP) - American sports tycoon Stan Kroenke has reiterated that he does not intend to borrow money against Arsenal to fund his proposed purchase of the remaining shares in the Premier League club.

Kroenke made the pledge Friday in the official offer document for the 37 percent of shares he does not own. His offer values the club at about $1.2 billion.

KSE UK Inc., a company owned by Kroenke, says “that the offer will not be funded by debt finance secured against the club.”

The mandatory bid was triggered last month when Kroenke increased his stake past a 30 percent threshold.

Kroenke owns the NFL’s St. Louis Rams, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche and Major League Soccer’s Colorado Rapids.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide