Now that the season has ended and Arsenal are once again Premier League champions, I thought it would be interesting to look back at the history of Stan Kroenke and his involvement with The Arsenal and ask the question: are we lucky to have him as the sole owner of our club?
The answer to that question may depend on when you became an Arsenal supporter, because there have certainly been some turbulent moments during the Kroenke era. However, looking at where the club stands today compared to where it was just a few years ago, there is certainly a strong case to be made.
From Minority Shareholder To Sole Owner
It all started back in 2007 when Stan Kroenke bought 9.9% of Arsenal shares from an ITV consortium.
Then, in 2011, he became the majority shareholder after buying the shares of Danny Fiszman and Lady Bracewell-Smith, bringing his total stake to 62.89% and giving him operational control.
The final step, after a power struggle with Alisher Usmanov and David Dein, saw him buy their shares and take Arsenal into private ownership in 2018. The club was valued at around £600 million and was subsequently removed from the stock market.
What followed was a string of negative situations, culminating in the fiasco of the European Super League in April 2021.
Having seen players such as Mesut Özil and Pierre-Emerick Aubameyang have their contracts terminated and paid off to leave the club, while Arsenal finished eighth in consecutive seasons, the decision to join the ESL was viewed by many supporters as the latest betrayal and the final straw.
Mass demonstrations outside the Emirates saw the emergence of Josh Kroenke, who apologised and insisted that the club was not for sale despite interest from the likes of Daniel Ek.
He assured the fanbase that his father was committed to taking Arsenal back to the top and asked for time and patience while the rebuilding process took place.
The Arsenal Revolution
What happened from 2021 onwards was a revolution at the club, both on and off the pitch, as the commitment to rebuild our club began to take shape.
There was a renewed effort to connect with the fanbase by listening to supporters’ concerns, while the manager and players were given time to prove themselves. Most importantly, Mikel Arteta was backed financially with the kind of investment required to compete with Manchester City, Liverpool, Chelsea and Manchester United.
A new backroom team was assembled, including the likes of Tim Lewis, while a supporters’ committee was also formed to provide feedback and raise concerns directly with Josh Kroenke.
Big names were sacrificed, staff were controversially made redundant during the Covid period, but throughout all this turmoil the ownership remained loyal to the project and continued backing our novice manager, not only with words but with significant financial investment.
It has been reported that Arsenal spent around £95 million on transfers in 2021/22, followed by £187 million in 2022/23. We also saw the club smash its transfer record when Declan Rice arrived for a reported £105 million, despite interest from several other major clubs.
Money was also invested into the women’s team, while discussions regarding improvements to the Emirates Stadium continued.
A Promise Delivered
Of course, the ultimate prize of becoming Premier League champions was finally achieved at the end of this season, while Arsenal also came agonisingly close to adding the Champions League title.
It is now reported that the club is valued at around £3 billion, while Arsenal possess one of the most valuable squads in world football.
Compare that valuation with the reported £600 million figure when Mr Kroenke became sole owner.
Yes, it has been a bumpy ride.
A frustrating ride.
A ride that tested the patience and loyalty of every single Gooner.
But winning the Premier League, seeing an estimated crowd of over one million supporters attend the open-top bus parade, and witnessing the millions of Arsenal fans celebrating around the world shows just how far the club has progressed under the ownership of “Silent Stan” Kroenke.
I honestly cannot think of another owner who has transformed a football club in quite the same way.
Thank you, Stan and Josh, for keeping your word.
And I am confident that the success will continue.
What do you think, Gooners? Has Stan Kroenke earned the trust and gratitude of the Arsenal fanbase, or do you still have reservations about his ownership? Let us know your thoughts in the comments below.
ken1945
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Its turned into a marriage from Heaven.
Ain’t that the truth Reggie and yet you and I were two of those who questioned Mr Kronkie and now, to quote a famous song lyric, 🎶 “We’re blinded by the light!” 🎶
I think to be fair Ken, we all questionioned him but from 2021 onwards, he/they have been model owners, we hope, on the face of it. We have a very well run club.
The outpouring of fury from the supporters of several of the proposed super league clubs forced the hand of the Kroenkes as far as Arsenal were concerned. My overriding memories are of mostly wealthy American owners wanting to sew up European football to be the same as it was across the pond and very few of us were having it. History, culture, tradition are all words that stood out for me. Big money thinking that those 3 words could be steamrolled.
I think Josh Kroenke must have no doubt in his mind what those 3 words mean after the jubilation of the victory parade and how important it is to not only the local community but to people worldwide. I’ve seen so much footage of him revelling in the atmosphere of that day to now see a man who looks like a proper Gooner himself rather than just the boss’s mouthpiece.
One major success was the turnaround at the top with the quiet removal of several executives to then reflect a closer affiliation to Arsenal or English football in general.
On a par was allowing Arteta the time to change the vision of the club. Long gone are the arm waving, blaming it on someone else on the pitch attitudes I witnessed before Emery’s departure.
To cauterise the rotten attitude was an expensive decision to make by the Kroenkes but necessary all the same. Players thinking they were bigger than the club rather than part of a team are long gone. PSG tried the big name egos and it failed and look at where they’re at now having changed tack.
A change of ownership to one with big pockets doesn’t automatically mean one for the better. Stacked in the Kroenke’s favour was their portfolio of other sports clubs rather than a hedge fund or being a billionaire with no clue
A really good read Ken1945
After AW and UE, Kroenke decided that a much higher spending level was needed to maximize return on their investment.
I’m thankful that The Arsenal was not taken over and turned into a state-funded club like PSG & City. We don’t have that kind of wealth in the UK, and the Kroenkes seem to be genuine enough fans, so here’s hoping that they don’t see us as a saleable commodity now that our value is at such a high.
I didn’t like them at first, but they’ve done a pretty good job since COVID. They’re clearly sports people. they’ve invested in all kinds of teams and have had success with most of them. I think pretty much all of their teams have won a title in recent years.
My only concern with American owners is treating Arsenal like any other American sports franchise, where the expectations and consequences are very different. A lot of owners are happy as long as their team makes the playoffs. Some franchises are badly run, but it doesn’t really matter because they still make money and there’s no relegation to worry about. I think things really changed when Josh got more involved in running the club. He seems to care about Arsenal beyond just the balance sheet, and that’s probably been a big factor in the turnaround.
Agreed with your view on Josh Ibrahim – he certainly is heavily involved with the manager and players.
Thanks for the reply.
OT Just reading that Thomas Partey has had his visa revoked by the Canadian government – what on earth has happened to innocent until proven guilty?!
you think they would have checked all of this ?
Crazy Dan and Scottish fans being turned away at airports, while we have thousands of empty seats at the first game.
FIFA’s response was that the fans had all moved to the gangways.!!
By the way, what are your views on the article?
why are Scottish fans being turned away ?
We will never agree on the owners lol
I do give them credit for their recruitment last summer and let’s hope that Josh having a hands on role and not his dad is a game changer
I heard an interview where he said after Baku he sat with his dad and said we need to change things here
I think the turning point myself may have been the Super League attempt .
I think that backlash and the 8th place finish made them wake
but based on when Stan first joined the board …….no he’s not the best owner and no I don’t feel lucky
Tgabjs for the reply regarding the article Dan.
Scottish fans are not being allowed out, as their visas are being denied, despite being initially approved!!
The USA is in a COMPLETE with the world cup.
It seems FIFA and Infantino in particular, are just folding and rolling over to appease a certain POTUS!!