Stan Kroenke takeover 'a dreadful day for Arsenal Football Club' says leading supporters group

The move has been received poorly by supporters who have long protested against Kroenke's involvement with the club

Stan Kroenke's proposed takeover of Arsenal has been labelled "a dreadful day for Arsenal Football Club" by a leading supporters group.

The American's company, Kroenke Sports and Entertainment, currently owns 67 per cent of the Gunners and has offered to purchase the 30 per cent held by Alisher Usmanov's Red and White Securities firm.

KSE says it has received an "irrevocable undertaking" from Red and White Securities to accept the offer as soon as possible, and in any event by 3pm on Tuesday.

But the news has been received poorly by supporters who have long protested against Kroenke's involvement with the club.

A statement from The Arsenal Supporters' Trust read: "Stan Kroenke taking the club private will see the end of supporters owning shares in Arsenal and their role upholding custodianship values.

"The most dreadful part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans.

"Many of these fans are AST members and hold their shares not for value but as custodians who care for the future of the club. Kroenke's actions will neuter their voice and involvement.

"The AST is wholly against this takeover. Arsenal remains too important to be owned by any one person."

In a statement published on the London Stock Exchange, Kroenke said: "We at KSE are moving forward with this offer leading to 100 per cent ownership of the club.

"We appreciate Mr Usmanov's dedication to the Arsenal Football Club and the storied ethos and history the club represents."

Kroenke's involvement has long been divisive (Getty)

In October last year KSE offered around £525million to buy the 18,695 shares held by Usmanov.

Kroenke believes taking the north London club into private ownership will increase their chances of success in the future.

The Gunners last won the Premier League title in 2004 and last season finished sixth, 37 points behind champions Manchester City.

Arsenal fans have long protested against Kroenke (Getty ) (Getty)

Unai Emery was appointed manager in May after the club said farewell to Arsene Wenger after 22 years in charge.

The statement continued: "The successful implementation of the offer will result in the opening of a new chapter in the history of the club in bringing 100 per cent private ownership by KSE.

"KSE believes moving to private ownership will bring the benefits of a single owner better able to move quickly in furtherance of the club's strategy and ambitions. KSE is a committed, long-term owner of the club."

Additional reporting by PA