Premier League - Kroenke: Arsenal have elements for success

Thu, 27 Oct 11:21:00 2011

Arsenal majority shareholder Stan Kroenke maintained the club had "all the elements for success" when addressing shareholders at Thursday morning's Annual General Meeting at Emirates Stadium.

Stan Kroenke Arsenal owner - 0

After taking a controlling stake of more than 60 per cent in the Gunners' parent holding company earlier this year following the purchase of shares from the late Danny Fiszman, the Denver-based sports magnate revealed he was relishing his involvement at Emirates Stadium.

"What a wonderful club," Kroenke said. "We are involved extensively in sports in the United States and had lots of opportunities to involve ourselves in lots of clubs around Europe and in the (English) Premier League. We did not have an interest, but as we became involved with Arsenal in a commercial undertaking in Denver, I became more interested."

He added: "Arsenal has all the elements that you need to have success in this kind of business.

"(The club) has tremendous management at the top, a wonderful manager on the pitch who makes great decisions in regard to personnel, and a tremendous following with the supporters.

"With all those things in place, it was an easy decision for us to get more involved.

"We are glad to be here, are happy with the direction of the club and are here for the long term - we love London, you had better get used to seeing us, because we will be around."

Chief executive Ivan Gazidis had delivered the opening address to the AGM at the Emirates Stadium, and maintained "being a force" both in the Premier League and Europe would always continue to be the Gunners' "main objectives".

Gazidis also updated the AGM on the club's "sound financial platform", with all bank loans paid off and the only outstanding debt now related to the stadium move, which are set at affordable long-term rates.

The Arsenal chief executive revealed there would soon be more commercial income from new sponsorship agreements, saying: "We have a sound foundation to move forwards. Standing still has never been an option."

PA Sport

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