ITV looks to US to sell Arsenal stake

24 Apr 2008

By: Sport Industry Group

ITV may finally have found a bidder for its 10 percent stakeholding in Arsenal after Stan Kroenke, the US billionaire owner of soccer club the Denver Rapids, was linked to a bid.

Kroenke, who would be the latest in an increasingly long line of US investors in FA Premier League clubs, was pencilled in as a potential bidder after the Denver Rapids announced a partnership last week with Arsenal based on sharing marketing know-how and collaborations on training and coaching methods.

Kroenke has dismissed any financial investment in Arsenal as a stakeholder but sources close to ITV believe that the broadcaster is keen to strike a deal.

ITV recently disposed of its 10 percent stake in Liverpool as part of the club’s takeover by US businessmen George Gillett and Tom Hicks.

The broadcaster is keen to free up funds by similarly ridding itself of its investment in Arsenal which is currently valued at around £31m.