And Finally Business News Digital

Arsenal rejects Daniel Ek’s takeover bid

By | Published on Monday 17 May 2021

Spotify Press Announcement

Spotify CEO Daniel Ek has confirmed that his bid to take ownership of Arsenal Football Club has failed. In a statement, he said that he made an offer to current owner Kroenke Sports & Entertainment to buy the club last week, but was knocked back.

“This week an offer was made to both Josh Kroenke and their bankers that included fan ownership, representation at board and a golden share for the supporters”, he said in a tweet on Friday. “They replied that they don’t need the money. I respect their decision but remain interested and available should that situation ever change”.

Ek first announced his interest in buying Arsenal last month, reportedly putting together an offer of £1.8 billion. “As a kid growing up, I’ve cheered for Arsenal as long as I can remember”, he said at the time. “If KSE would like to sell Arsenal I’d be happy to throw my hat in the ring”.

Although Ek stressed that he was “very serious” about the bid, the Kroene family said that they were “100% committed to Arsenal and are not selling any stake in the club” and would therefore “not entertain any offer” to buy it. So, it’s not a massive surprise that they’ve knocked back Ek’s formal bid.