Arsenal 'family' impress Kroenke

Jim van Wijkon the latest USA investment in a Premiership club

Stan Kroenke is "excited" about joining "the Arsenal family" and had been impressed with the leadership of the Premiership club when setting up a marketing partnership earlier this year, according to a spokesman for the American's company.

The north Londoners have become the latest English outfit to receive investment from the United States following the purchase of a 9.99 per cent shareholding by Kroenke's KSE UK Inc group, which also secured a 50 per cent stake in Arsenal Broadband Ltd for a combined total of £65 million.

Kroenke Sports Enterprise already have an extensive sports portfolio, with interests in the likes of American football franchise St Louis Rams, NBA side Denver Nuggets and the NHL's Colorado Avalanche.

The 58-year-old is estimated to be worth around $2 billion, having made his substantial fortune mainly through real estate and constructing shopping centres, retail, business and residential developments. His wife Anne Walton is part of the family which owns the Wal-Mart stores.

The KSE group had already developed an initial "innovative strategic relationship" with the Premiership club, which was set up earlier this year through Major League Soccer team Colorado Rapids.

Kroenke Sports executive vice president and chief marketing officer Paul Andrews spoke of the "tremendous amount of respect" the group had for Arsenal which led to yesterday's investment.

"Mr Kroenke is a 9.9 per cent owner and is very excited about that," said Andrews. "He is also very excited about the marketing alliance we have. We are excited to be part of the Arsenal family. Arsenal is a great brand and we are excited to be part of that."

A delegation from Arsenal are currently in the United States as part of the marketing relationship, and the trip was scheduled before the unrelated announcement of KSE's significant financial investment.

The MLS season is set to kick off this weekend, when the Rapids host DC United in the opening game at the Dick's Sporting Goods Park at Commerce City.

Andrews revealed it had been during the negotiations over establishing a marketing link that Kroenke had been impressed by Arsenal.

He said: "It is fair to say that because we spent some time with the management and leadership of Arsenal over the course of the last year in getting our marketing partnership together, we became very fond of the brand and of the leadership.

"It is fair to say that made the investment decision even easier.

"We have a great relationship with them."

Talk of a full-blown takeover at Emirates Stadium, however, seems somewhat premature.

Major shareholders - which include vice chairman David Dein and director Danny Fiszman - have no intention of selling up to any interested parties.

Andrews stressed: "We do not ever speculate in relation to our investments, or future intentions. We do not do that across our business in the United States and we will not do that in the UK."

Arsenal manager Arsene Wenger believes no football club should be totally dependent on wealthy backers.

The French coach believes just throwing money at the squad is not necessarily the answer as Arsenal look to make the most of the transition to their 60,000 Emirates Stadium.

"In the longer term, it is always better that you produce your own resources and, for us with a new stadium, I feel in the near future - four, five or six years - the club will be capable to compete on its own resources," said Wenger.