Kroenke appears to be employing underhand tactics to get a boosted pay-off…
Arsenal fans may be worried by the latest actions of owner Stan Kroenke with the American businessman seemingly threatening to move his NFL team to another city to get a $575 million pay-off.
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A report from Deadspin suggests Kroenke is doing all he can to scare the city of St. Louis into believing he is about to relocate their local franchise, the Rams.
And the Arsenal majority shareholder is using this threat to try to squeeze $575m of public money from the city’s coffers.
Kroenke hasn’t directly threatened such action but has bought a size of land in Los Angeles suitable for an NFL stadium whilst also refusing to speak with city officials and re-negotiate a stadium financing deal which would ensure the Rams remain where they are.
Whilst the NFL franchise are currently in year 20 of a 30 year stadium lease, they can take it on a year-to-year basis when Kroenke is unable to negotiate terms with the city to help fund so called “stadium improvements”.
And right now, Kroenke seems to be using this clause along with the threat of relocation to squeeze the $575m of public money.
These kind of underhand tactics might not come as a surprise to Arsenal fans considering Kroenke took £3m from the club earlier this season for “strategic and advisory services”, according to the Guardian.
Just one problem, this figure tallied with the extra monies the club was able to acquire from fans through a 3% season ticket rise.
That and this latest news certainly seem to set a worrying precedent from the Arsenal owner.