US Sports Tycoon To Buy Arsenal Soccer Club For $645M

Law360, New York (April 11, 2011, 1:32 PM EDT) -- U.S. billionaire Stan Kroenke announced Monday that he is poised to take ownership of the famed Arsenal soccer franchise in London for £394 million ($645 million).

Under the terms of the deal, Kroenke's company, Kroenke Sports Enterprises UK Inc., which already owns 30 percent of the club, would pay shareholders of Arsenal Holdings PLC £11,750 in cash per share, or, as an alternative, guaranteed loan notes issued by KSE, for the remaining 70 percent of the shares. The deal values the club at £731 million ($1.2...
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