From Stan : Abramovich v Kroenke
I couldn’t help but point out the flaws in goonergerry’s short note.
Just 3 lines underneath a statement that Abramovich doesn’t give a jot about the fans (evidence of lack of morality) is the statement that Kroenke is not here to placate the fans (but is somehow moral).
Can we nail the Abramovich buying success at any price one last time please, in the language of business which any Arsenal board member must have sympathy with.
Abramovich’s total investment in Chelsea is about £1bn.
Forbes (for what it’s worth) recently valued “Chelsea” at £900m and rising. As a business strategy he took a virtually bankrupt asset, invested in the business and grew its value. And along the way over 10 years, the fans have had a brilliant time. I’m not sure he is so daft as everyone would like to make out.
Kroenke has spent about half that amount on about 65% of Arsenal.
He doesn’t have control either to force a 100% purchase or to sell up. If he were to purchase the rest it would be comparatively very expensive.
However, according to Forbes’s value of Arsenal he is sitting on a tidy profit. Along the way he has made a lot of former shareholders a lot of money and given the fans nothing.
How do you define moral?