Premier league news Stan Kroenke's fall in wealth could impact Arsenal's transfer activity Last spor news
PremierLeague-News.Com - Arsenal fans will be hoping to see their side spending a fair amount in the summer on the back of a disappointing season so far, but Stan Kroenke may have a different plan on the back of recent news
PremierLeague-News.Com - Breaking Sport Transfer News ! Arsenal owner Stan Kroenke has seen his wealth drop by a huge chunk over the last year. It's been a challenging year for almost everyone in terms of finances as businesses and indeed people get to grips with the financial impact of coronavirus. Football has been no exception, with many clubs taking out a short-term loan with the Bank of England in recent months, including Arsenal, who borrowed £120million in January. Meanwhile, owner Kroenke has seen the completion of the all-new SoFi Stadium, built for his Los Angeles Rams ahead of the most recent NFL season when his side were defeated in the play-offs. Video Loading Video Unavailable Click to play Tap to play The video will auto-play soon8Cancel Play now The stadium, which will host the 2022 Superbowl, cost no less than $5billion, almost double what it was estimated to cost initially. The stadium was the vision of Rams owner Kroenke, but his finances do seem to have taken a hit, and no doubt it will be, in part, due to the building of the stadium, as well as the impact of coronavirus on his businesses. According to Forbes, Kroenke has lost $1.4billion (£995.76million) in the last year alone, seeing him slip to 59th in the list of US billionaires in 2020 with a wealth of $8.3billion (£5.9billion), which reports in the USA state is close to where his estimated wealth was in 2018, at around $8.5billion. Sign up to our Arsenal newsletter for the latest transfer news By signing up for our Arsenal newsletter, you will receive a once-daily email, focused around goings-on at Emirates Stadium.
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Despite this, Arsenal fans will be keen for new signings ahead of the summer amid a disappointing season so far. In theory, the Gunners should have money to spend given the money they saved from offloading Mesut Ozil and Shkodran Mustafi during the January window. But while Kroenke still has plenty of cash in the bank, the financial repercussions of the coronavirus pandemic could yet impact Arsenal and their transfer hopes ahead of this summer.
Source = PremierLeague-News.Com