Arsenal Owner Stan Kroenke's $2.33 Billion Offer To Buy Entire Club Accepted

Arsenal's majority shareholder Stan Kroenke's £1.8 billion ($2.33 billion) offer on Tuesday to buy the entire north London club has been accepted.

The U.S. billionaire, who owns the Los Angeles Rams and the Colorado Rapids among others under Kroenke Sports & Entertainment (KSE), currently owns 67 percent of Arsenal.

Kroenke received the support of Russian business magnate Alisher Usmanov, who formally offered the American to buy his 30 percent stake at the club as an agreement was reached between the pair. Usmanov notably wanted full ownership in the past, even making a $1.3 billion offer to buy out Kroenke in May last year only for it to be rejected.

"We at KSE are moving forward with this Offer leading to 100% ownership of the Club," Kroenke said in an official statement. "We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the Club represents."

KSE believe Arsenal, 13-time league champions and a record 13-time FA Cup champions, will be better served under private ownership.

"The successful implementation of the Offer will result in the opening of a new chapter in the history of the Club in bringing 100 per cent. private ownership by KSE, which owns approximately 67.09 per cent of the Arsenal Shares currently and has been the majority shareholder since its mandatory offer in 2011," the offer details read. "KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the Club's strategy and ambitions. KSE is a committed, long-term owner of the Club."

The news will not particularly go down well with Arsenal fans, especially the Arsenal Supporters' Trust whose members will now have their shares forcibly purchased.

In addition, Kroenke has been nicknamed "Silent Stan" for his absence during games throughout the years as well as his lack of investment into the team.

His lack of ambition compared to other club owners is also a major issue for fans, especially as he persisted with former manager Arsene Wenger until earlier this year, despite the club's ongoing 14-year league title drought.

However, KSE claim they are committed to helping the club consistently challenge not only for the Premier League but the Champions League as well.

"KSE's ambitions for the Club are to see it competing consistently to win The Premier League and The Champions League, as well as the major trophies in the women's senior game and at youth level," they said.

As for Usmanov, whose wealth is estimated at just over $15 billion, he is now expected to join his business partner Farhad Moshiri at Everton, according to the Telegraph. Moshiri sold his Arsenal investment in 2016 so he could buy a 49.9 percent stake at the Merseyside club.