Why Kroenke rejected Usmanov's £1bn Arsenal takeover offer

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Alisher Usmanov made a £1billion takeover offer for Arsenal earlier this month
Sources close to Stan Kroenke say he rejected it as he wants to oversee success
When Kroenke took a controlling stake in the club in 2011 it was valued at £731m

Published: 04:31 EDT, 20 May 2017 | Updated: 07:17 EDT, 20 May 2017

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Arsenal owner Stan Kroenke rejected Alisher Usmanov's £1billion takeover offer because he wants to remain in control of the club for the long term and is determined to restore Arsenal to being Premier League champions, as well as making them a force in Europe.

Sources close to Kroenke have said that the money he would have made isn't an issue as he wants to see the club grow and wants to oversee future success.

Usmanov, a metals magnate who owns 30 per cent of Arsenal, made the offer earlier this month and though there has been no formal response, it is understood that Kroenke, who controls a 67 per cent stake, has rejected it.

Arsenal owner Stan Kroenke 'wants to see the club grow and wants to oversee future success'

Russian businessman Alisher Usmanov made a £1billion takeover offer for Arsenal

There is a growing dissatisfaction with the Kroenke regime among Arsenal supporters

When Kroenke originally took a controlling stake in the club in 2011 it was valued at £731m, and Usmanov's offer valued it at £1.54bn but despite the increase, Kroenke wants to stay, which will mean overseeing the succession to Arsene Wenger in the next few years.

Usmanov has been a long-established critic of the leadership of Arsenal, arguing that the club needs investment to compete with the likes of Manchester United and Manchester City for the most expensive players.

He believes Kroenke has been happy to keep the status quo of ever-rising profits from Wenger delivering Champions League football for 20 years.

He also has tapped into a growing dissatisfaction with the Kroenke era among Arsenal fans, many of whom see him as an absentee owner.

The executive leadership of the club will be brought into sharp focus this week, with the failure to confirm Arsene Wenger as manager for next season and the uncertainty surrounding the future Mesut Ozil and Alexis Sanchez, combined with the probable failure to make the Champions League for the first time since 1998.