Kroenke cranks up Arsenal stake

December 21, 2009

American sports magnate Stan Kroenke has moved to within 17 shares of the threshold requiring him to mount a takeover of Arsenal after upping his stake in the English Premier League club.

The London side said on Monday that Kroenke had acquired 25 more shares last week at a cost of 212,500 pounds (342,099 dollars).

The Denver-based Kroenke increased his stake in Arsenal to 29.9 percent last month.

If he ups his holding to 29.99 percent, Kroenke must, under English company law, make an offer for the remaining shares – in effect, launch a takeover bid.

Kroenke, who has been increasing his holding in Arsenal in recent months, declined an opportunity at the club’s October annual general meeting to clarify his intentions, fuelling speculation a takeover bid could be imminent.

Some of his shares in the club have been purchased from Arsenal chairman Peter Hill-Wood.

That was seen as an indicator of the Arsenal hierarchy’s preference for Kroenke over Arsenal’s second-biggest shareholder, Alisher Usmanov, whose company Red and White Holdings holds a stake of just under 26 percent.

Arsenal, who beat Hull City 3-0 at the Emirates Stadium here on Saturday, are currently third in the Premier League table – six points behind leaders Chelsea but with a game in hand.

LONDON (AFP)

Tags: american sports, annual general meeting, CHELSEA, cranks, emirates, Emirates Stadium, English Premier League, hierarchy, hull city, london, magnate, Peter Hill-, preference, premier league, shareholder, six points, speculation, stake, stan kroenke, takeover bid, threshold, ups, usmanov, Wood

Watford fears for future after board resigns

December 16, 2009

English second division side Watford feared for its future on Wednesday after the club’s loss-making parent company asked for its shares to be suspended following the resignation of key board members.

Watford Leisure, in a statement to the London Stock Exchange, warned that it may fall into administration — a situation that would see it run by independent accountants and trigger an automatic ten-point penalty on the team.

Watford currently lie tenth in the Championship — one tier below the Premiership — on 30 points. A drop to 20 points would see the club drop to fourth-bottom in its division, one place above the relegation zone.

“Watford Leisure announces that immediately prior to the company’s annual general meeting, held yesterday evening (Wednesday), Jim Russo, Vince Russo and Robin Williams resigned from the board of Watford Leisure with immediate effect,” said a statement issued on Wednesday.

“Following the resignation of the aforementioned directors, the board received a written demand from Valley Grown Salads — a company in which Jim and Vince Russo have an interest — for the repayment of its 4.88 million pounds of loans made” to Watford Leisure.

The statement added: “In the event that a funding solution cannot be obtained then the company may have to be placed in administration.”

Watford’s most famous fan is pop legend Sir Elton John, who owned the club during its most successful era that spanned the late 1970s and most of the 1980s.

Under the guidance of Graham Taylor, who went on to manage the England national team, Watford rose from division four obscurity to finish second behind Liverpool during its first ever season in the top tier of English football.

A year later, in 1984, the Hornets reached the FA Cup final, losing 2-0 to Everton.

LONDON (AFP)

Tags: annual general meeting, elton john, England, england national team, english football, everton, fa cup final, graham taylor, hornets, independent accountants, Jim, Jim Russo, Liverpool, london, london stock exchange, obscurity, pop legend, relegation zone, Robin Williams, sir elton john, valley grown salads, Vince, Vince Russo, yesterday evening

Redknapp has little money to spend

December 11, 2009

Tottenham chairman Daniel Levy has told the club’s manager Harry Redknapp he will have to sell players of his squad before signing anyone in January’s transfer window.

After taking the reins as Tottenham manager, Redknapp spent 45 million Pounds last January as Spurs climbed out of the relegation zone of the Premier League.

But Redknapp’s hopes of spending big this January were dashed by Levy at the Annual General meeting at White Hart Lane.

“We do not envisage being very active in the January transfer window, although we will take note of any opportunities that arise,” said Levy.

“That is with the proviso, however, that we do not envisage any net spending.”

Levy said there would be “no disruption to the core team” next month, which would appear to rule out any possibility of Keane leaving for Celtic.

The Irish striker has been linked with a loan move to Celtic but Roman Pavlyuchenko seems to be more likely to leave Spurs, having spoken of his desire to play first-team football.

Levy added: “Having a settled squad gives us the best chance for consistency. We are striving for top-level displays, including the ability to take on and beat the so-called top-four teams.”

Levy encouraged shareholders to write to Haringey Council to increase the chances of getting planning permission for a new 58,000-seat stadium, believing it could be used as a host ground if England’s 2018 World Cup bid is successful.

“I would urge you to write and support the application,” Levy told shareholders.

“These are exciting times, and the stadium would be a possible venue for the World Cup, but we must not rest on our laurels.”

Tags: annual general meeting, core team, daniel levy, disruption, England, getting planning permission, Harry Redknapp, Hart Lane, keane, laurels, level displays, premier league, proviso, reins, relegation zone, seat stadium, shareholders, spurs, striker, team football, tottenham, white hart lane, World Cup

Smith to continue without Rangers contract

December 7, 2009

Walter Smith will continue as Rangers manager without a contract as majority shareholder David Murray continues his efforts to sell the club, chief executive Martin Bain said Monday.

Bain told the club’s annual general meeting that Smith, whose current contract expires next month, would stay on without signing a new deal and that his assistant Ally McCoist and first-team coach Kenny McDowall would do likewise.

“We are lucky to have a management team who are all true Rangers supporters,” Bain said. “Walter, Ally and Kenny have agreed to work without contracts to protect the club from having a management team that new owners might not want.”

Rangers chairman Alastair Johnson meanwhile ruled out a sale of naming rights to the club’s Ibrox stadium, despite a 31-million-pound debt burden.

“Ibrox is non-negotiable,” Johnson said.

GLASGOW (AFP)

Tags: 31 million, AFP, Alastair Johnson, ally, ally mccoist, annual general meeting, bain, chief executive martin, club chief, contracts, david murray, debt burden, Glasgow, Ibrox Stadium, Kenny, Kenny McDowall, majority shareholder, management team, Martin Bain, new deal, rangers, team coach, Walter, walter smith

Beckenbauer to get Bayern testimonial 33 years late

November 28, 2009

German football legend Franz Beckenbauer is to be honoured with a belated testimonial match by his former team Bayern Munich, 33 years after his departure.

The 64-year-old Beckenbauer left Bayern in 1977 for the New-York Cosmos, but no farewell match was held to mark his departure.

This oversight will be rectified in August 2010 when Bayern play Real Madrid at the Allianz-Arena, when Beckenbauer will be named honorary captain of the German club.

“His departure in 1977 didn’t occur as it should have … He is without a doubt the personality that has most marked the club,” Bayern president Karl-Heinz Rummenigge said at the club’s annual general meeting on Friday.

Beckenbauer played 427 first division matches and scored 60 goals for Bayern between 1964 and 1977.

He won four Bundesliga titles, four German Cup and three European titles with the club. He played in the American league from 1977 to 1980 before joining Hamburg in 1982.

Beckenbauer also won the World Cup with Germany in 1974 and the European championship in 1976.

MUNICH, Germany (AFP)

Tags: 33 years, allianz, allianz arena, annual general meeting, Bayern, Bundesliga, european titles, farewell, football legend, former team, franz beckenbauer, german club, german cup, german football, Germany, karl heinz, karl heinz rummenigge, MADRID, Munich, new york cosmos, oversight, real madrid, World Cup, York

Kroenke on brink of Arsenal takeover bid

November 5, 2009

American sports magnate Stan Kroenke has edged a step closer to a possible bid for full control of Arsenal by increasing his stake in the club’s holding company to 29.9 percent.

That is just short of the 29.99 percent threshold at which British company law requires investors to make an offer to buy out all the other shareholders.

Kroenke declined an opportunity to clarify his intentions at Arsenal’s annual general meeting last month, which fuelled speculation that a bid could be imminent.

The latest increase in Kroenke’s stake followed the acquisition of 200 shares, half of which were sold to him by Peter Hill-Wood, the Arsenal chairman.

That move will be seen as an indicator of the Arsenal hierarchy’s preference for Kroenke over Arsenal’s second-biggest shareholder, Alisher Usmanov, whose company Red and White Holdings holds a stake of just under 26 percent.

Kroenke has also been able to purchase shares from another board member, Danny Fiszman, who has around 16 percent of the holding company.

LONDON (AFP)

Tags: acquisition, american sports, annual general meeting, arsenal, board member, danny fiszman, hierarchy, holding company, london, magnate, Peter Hill-, preference, shareholder, shareholders, speculation, stake, stan kroenke, takeover bid, threshold, usmanov, Wood

Car giants Audi set to buy share of Bayern: report

September 19, 2009

German car manufacturer Audi could be set to buy 10 percent of Germany’s most famous football club Bayern Munich at a cost of almost 100 million euros, according to Saturday’s edition of Bild.

The German tabloid claims the deal could be completed next month and would allow Bayern to reduce the debt they owe for the construction of their Allianz Arena stadium in Munich which opened in 2005.

“I won’t name names, but we are in a very good negotiations with a company,” said Bayern team manager Uli Hoeness.

“This is one for the finance department, it could be a good autumn for Bayern.”

Audi spokeswoman Iris Altig insists the news is still just “speculation” but admitted “there are on going considerations on how a close partnership could be encouraged”.

Bild state the deal is expected to be finalised in October and announced in time for the club’s annual general meeting in November.

Audi already sponsor Bayern and provide the Munich players with cars.

Bayern Munich have won 21 domestic league titles, are reported to be worth 295.3 million euros and German sportswear giants Adidas have already held a 10 percent share in the football club since 2002.

BERLIN (AFP)

Tags: 100 million, allianz, allianz arena stadium, altig, annual general meeting, Bayern, bayern munich, berlin, car giants, finalised, finance department, football club, german car manufacturer, Germany, iris, Iris Altig, league titles, Munich, negotiations, speculation, spokeswoman, sportswear, uli hoeness

Audi ´set to buy share of FC Bayern´

September 19, 2009

German car manufacturer Audi could be set to buy 10 percent of prestigious football club Bayern Munich at a cost of almost 100 million euros, according to Saturday’s edition of Bild.

The German tabloid claims the deal could be completed next month and would allow Bayern to reduce the debt they owe for the construction of their Allianz Arena stadium in Munich which opened in 2005.

Audi spokeswoman Iris Altig insists the news is still just “speculation” but admitted “there are on going considerations on how a close partnership could be encouraged”.

Bild state the deal is expected to be finalised in October and announced in time for the club’s annual general meeting in November.

Audi already sponsor Bayern and provide the Munich players with cars.

Bayern Munich have won 21 domestic league titles, are reported to be worth 295.3 million euros and German sportswear giants Adidas have already held a 10 percent shars in the football club since 2002.

BERLIN (AFP)

Tags: 100 million, adidas, allianz, allianz arena stadium, altig, annual general meeting, Arena, Bayern, bayern munich, berlin, cars, finalised, football club, german car manufacturer, giants, iris, Iris Altig, league titles, Munich, partnership, shars, speculation, spokeswoman, sportswear

Former Real president under judicial investigation

May 7, 2009

MADRID (AFP) – A Spanish judge placed under judicial investigation on Wednesday 14 people, including former Real Madrid president Ramon Calderon, over a December general assembly that was marred by irregularities.

Vicente Boluda, who took over from Calderon in January after he stepped down following allegations that he rigged voting at the assembly, is among those put under judicial investigation, the first step to formal charges.

The crimes of corruption and fraud which the 14 are suspected of carry prison terms of between six months and four years under Spanish law.

Boluda, who is occupying the post until fresh elections for Real president are set to be held on June 14, and Calderon are required to appear before the judge on May 20.

Sports daily Marca reported on January 13 that Calderon rigged voting at Real?s annual general assembly in December, which approved its financial accounts, by allowing phoney club members to cast ballots.

Calderon, whose four-year term at the helm of Real had been set to expire in 2010, has denied any wrongdoing.

Real’s annual general meeting was repeated in March.

Former Real president Florentino Perez is tipped as the favourite to win the upcoming elections for president even though he has not said if he intends to run.

Perez is best known for recruiting top players like Luis Figo, Ronaldo and David Beckham, a policy which earned Real the nickname “Los Galacticos”.