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’Snap news
Breaking pre-market news on Wednesday,
- ASML Q1 bookings beat forecasts, posts profit – statement.
- Fresnillo Q1 silver output up 3 per cent to 9.5m ounces – statement.
- Alisher Usmanov’s Red &
Kroenke buys up more of Arsenal
The battle for control of Arsenal Football Club took a potentially decisive shift on Monday when one of the club’s shareholders sold a third of his stake to Stan Kroenke, the US sports franchise owner,
Arsenal boss to leave
In a world where tycoons are taking over football, one of the sport’s top businessmen is leaving the pitch.
Keith Edelman has resigned as Arsenal chief executive after eight years with the club – a move that is bound to reignite the debate about the football club’s ownership and future.
Gunners need not fear the Ambac effect
The slow drip of nasty news continues as the problems and subsequent downgrades of the US monoline bond insurers filters through the financial system.
Monday began with a month’s reprieve for the now CCC-rated ACA,
Arsenal to kick off deal in India
England’s soccer league teams are following the lead of multinationals and beginning to look to emerging markets for growth, with Premier League leader Arsenal FC on Tuesday announcing an initiative aimed at giving it a foothold in India.
Kroenke rules out bid, but could join UK’s Arsenal board
US Sports franchise billionaire Stan Kroenke could be offered a board position by the directors of Arsenal, the Premier League UK football club. Mr Kroenke already owns 12.2 per cent of the club. Kroenke is understood to have ruled out a bid for the club in a meeting with chairman Peter Hill-Wood and the board last week.
Arsenal, with £70m transfer kitty, maintains stance
Directors of Arsenal, the UK Premier League football club, are likely to extend their pact to retain their shares to deter takeover attempts, according to chairman Peter Hill-Wood, reports the FT. Board members had agreed in April to keep their shares for a year to ward off Stan Kroenke,
Uzbek in; hedge fund out – at Arsenal
Arsenal have yet to mount their challenge in this season’s Champions League, but the club already has a little more European flavour than it did when it fell foul of PSV Eindhoven in the knock-out stages earlier this year.
Arsenal board eager to keep Wenger
Arsenal’s manager Arsène Wenger met the football club’s board members Thursday afternoon as minority shareholders expressed concern that the sudden exit of influential vice-chairman David Dein could herald Mr Wenger’s departure.
Lombard: the Arsenal tradition
If Arsenal, one of London’s most historic soccer clubs, were a conventional listed company, then a pledge by the chairman not to sell to foreigners at any price would be rightly condemned as a breach of his fiduciary duty.
Exit of Arsenal vice-chairman to trigger ownership battle
A battle over the ownership of Arsenal football club appears inevitable after the board announced David Dein, one of the main architects of the club’s success in the past 10 years, was quitting with immediate effect.
Kroenke ‘eyes ITV’s 10% Arsenal stake’
Stan Kroenke, the billionaire owner of American soccer club Denver Rapids and Arsenal’s new commercial partner, is being pencilled in by analysts as a potential bidder for ITV’s near 10 per cent stake in the club,
Financing football
Nothing beats a shock result in football. But for the financial backers of the game, surprises are about as welcome as English hooligans in continental Europe, says Lex. Stability is vital when trying to securitise cash flows based on future ticket sales,