American billionaire Kroenke owns 67% of Arsenal through his company KSE and announced on Tuesday he had made an offer to buy up the rest of the shares.
Kroenke bought his first stake in 2007, and became majority shareholder in 2011 when he increased his shareholding to 66.64% after buying out Lady Nina Bracewell-Smith and Danny Fiszman. His deal values Arsenal at £1.8billion.
With Arsene Wenger departing after more than 20 years from the Arsenal manager's seat and being replace by Unai Emery, Gunners fans would have been hoping for relative calm before the start of the new season.
Speculation also emerged in 2017 that Usmanov was looking to buy Kroenke's shares with the minority shareholder reportedly offering £22,000 per share.
Stan Kroenke's move to take complete control of Arsenal "marks a terrible day" for the Gunners, according to the Arsenal Supporters' Trust (AST).
Aside from its stake in Arsenal, KSE also owns a number of USA sports clubs across a number of codes including; the Los Angeles Rams in American Football, the Colorado Avalanche in ice hockey and the Denver Nuggets in basketball.
Kroenke will finance the purchase of Usmanov's 30.5% stake with £45.3m of his own money and a £557m loan from Deutsche Bank, which also acted as financial adviser to KSE on th deal.
"Many of these fans. hold their shares not for value but as custodians who care for the future of the club".
There will be big dividends getting paid out from the football club as a profit maximising entity, but for Arsenal that's not really any different to what they have had for the past 10 or 15 years with Usmanov and back when Farhad Moshiri (former shareholder and Everton co-owner) was involved.
"I think it's very sad that we're in danger of losing any transparency into how our club is run", he told Reuters. It is in effect legalised theft to remove a brake on how Arsenal is managed'. Arsenal remains too important to be owned by any one person'.
@_AdamKeys posted: 'If Stan Kroenke buys 100% of Arsenal, he can take the company completely private.
He was critical of Kroenke's passive ownership style, a sentiment increasingly echoed by Arsenal fans, unhappy with what they see as the board's willingness to settle for on-field mediocrity so long as commercial stability was maintained.
Kroenke now competes against the billionaire owners of other clubs such as Chelsea's Roman Abramovich, Manchester United's Glazer family and Sheikh Mansour bin Zayed al-Nahayan, who owns last season's runaway winners, Manchester City.