American billionaire and Arsenal’s majority shareholder, Stan Kroenke has made an offer to fully buy the club in a deal that values the Gunners at £1.8bn.
Stan has made a bid of £600m in an attempt to fully take over the North London based side after it was reported that Russia’s Alisher Usmanov has agreed to sell his 30% stake. The American already owns 67% of Arsenal through his company KSE.
According to BBC Sport, the buy-out announcement was made to the London Stock exchange on Tuesday.
"KSE's ambitions for the club are to see it competing consistently to win the Premier League and the Champions League, as well as the major trophies in the women's senior game and at youth level,” reads part of a statement released by KSE as quoted by BBC Sport.
"Under KSE's stewardship since 2011 the club has invested in major transfers, player contracts, analytics, senior non-playing football management employees, building the club's global brand and fan-base, and the stadium, training facilities and club offices.
"KSE expects the club to build on those investments and to continue to invest in London Colney and Hale End to ensure the club stays at the cutting edge of sporting high performance through player preparation, training, conditioning and youth development."