Editing Arsenal F.C. (section)

==Ownership and finances==
{{further|Ownership of Arsenal F.C. & W.F.C.}}
The largest shareholder on the Arsenal board is American sports tycoon [[Stan Kroenke]].<ref name="Arsenal Board">{{cite news |url=http://www.arsenal.com/the-club/corporate-info/the-arsenal-board |title=The Arsenal Board |publisher=Arsenal F.C. |access-date=21 May 2017 |archive-date=19 June 2017 |archive-url=https://web.archive.org/web/20170619041920/http://www.arsenal.com/the-club/corporate-info/the-arsenal-board |url-status=live}}</ref> Kroenke first launched a bid for the club in April 2007,<ref name="kroenke">{{cite news |title=Takeover gains pace at Arsenal with 9.9% sale |url=http://football.guardian.co.uk/News_Story/0,,2051488,00.html |work=The Guardian |author1=Scott, Matt |author2=Allen, Katie |name-list-style=amp |date=6 April 2007 |access-date=11 August 2008 | location=London |archive-date=12 March 2008 |archive-url=https://web.archive.org/web/20080312020703/http://football.guardian.co.uk/News_Story/0,,2051488,00.html | url-status=live}}</ref> and faced competition for shares from Red and White Securities, which acquired its first shares from [[David Dein]] in August 2007.<ref name="usmanov">{{cite news |url=http://news.bbc.co.uk/1/hi/business/6971124.stm |publisher=[[BBC News]] |title=Russian buys Dein's Arsenal stake| date=30 August 2007| access-date=11 August 2008 |archive-date=12 January 2016 |archive-url=https://web.archive.org/web/20160112215140/http://news.bbc.co.uk/1/hi/business/6971124.stm| url-status=live}}</ref> Red & White Securities was co-owned by Russian billionaire [[Alisher Usmanov]] and London-based Iranian financier [[Farhad Moshiri (businessman)|Farhad Moshiri]], though Usmanov bought Moshiri's stake in 2016.<ref name="Usmanov buys Moshiri">{{cite web|title=Everton confirm sale of 49.9% of club to former Arsenal shareholder Farhad Moshiri|url=https://www.theguardian.com/football/2016/feb/27/everton-takeover-arsenal-shareholder-farhad-moshiri|work=The Guardian|date=27 February 2016|access-date=28 March 2016|archive-date=31 March 2016|archive-url=https://web.archive.org/web/20160331144005/http://www.theguardian.com/football/2016/feb/27/everton-takeover-arsenal-shareholder-farhad-moshiri|url-status=live}}</ref> Kroenke came close to the 30% takeover threshold in November 2009, when he increased his holding to 18,594 shares (29.9%).<ref>{{cite web |url=http://www.arsenal.com/news/news-archive/kroenke-increases-stake-in-arsenal-holdings |title=Kroenke increases stake in Arsenal Holdings |publisher=Arsenal F.C. |date=5 November 2009 |access-date=6 December 2009
|archive-url=https://web.archive.org/web/20091108092200/http://www.arsenal.com/news/news-archive/kroenke-increases-stake-in-arsenal-holdings |archive-date=8 November 2009 |url-status=live}}</ref><ref name="Kroenke at threshold">{{cite news |title=Kroenke nears Arsenal threshold |url=http://news.bbc.co.uk/1/hi/business/8343943.stm |publisher=BBC News |access-date=28 March 2016 |archive-date=24 March 2022 |archive-url=https://web.archive.org/web/20220324184223/http://news.bbc.co.uk/1/hi/business/8343943.stm |url-status=live}}</ref> In April 2011, Kroenke achieved a full takeover by purchasing the shareholdings of [[Nina Bracewell-Smith]] and [[Danny Fiszman]], taking his shareholding to 62.89%.<ref name="Kroenke buys Arsenal, BBC">{{cite news |title=US businessman Stan Kroenke agrees bid to buy Arsenal |url=http://news.bbc.co.uk/sport1/hi/football/teams/a/arsenal/9453736.stm |publisher=BBC News |access-date=28 March 2016 |archive-date=7 September 2017 |archive-url=https://web.archive.org/web/20170907014602/http://news.bbc.co.uk/sport1/hi/football/teams/a/arsenal/9453736.stm |url-status=live}}</ref><ref name="Kroenke buys Arsenal, Guardian">{{cite web |title=Stan Kroenke takes controlling stake in Arsenal with 62.89% of shares |url=https://www.theguardian.com/football/2011/apr/11/stan-kroenke-arsenal-takeover-control |work=The Guardian |date=11 April 2011 |access-date=28 March 2016 |archive-date=9 April 2016 |archive-url=https://web.archive.org/web/20160409092334/http://www.theguardian.com/football/2011/apr/11/stan-kroenke-arsenal-takeover-control |url-status=live}}</ref> In May 2017, Kroenke owned 41,721 shares (67.05%) and Red & White Securities owned 18,695 shares (30.04%).<ref name="Arsenal Board"/> In January 2018, Kroenke expanded his ownership by buying twenty-two more shares, taking his total ownership to 67.09%.<ref>{{cite news |last=Benge |first=James |title=Arsenal majority shareholder Stan Kroenke increases stake to 67.09 per cent with £616,000 investment |url=https://www.standard.co.uk/sport/football/arsenal-majority-shareholder-stan-kroenke-increases-stake-to-67-09-per-cent-with-ps616-000-investment-a3747426.html |access-date=14 December 2020 |work=Evening Standard |date=23 January 2018 |archive-date=6 June 2021 |archive-url=https://web.archive.org/web/20210606213238/https://www.standard.co.uk/sport/football/arsenal-majority-shareholder-stan-kroenke-increases-stake-to-67-09-per-cent-with-ps616-000-investment-a3747426.html |url-status=live}}</ref> In August 2018, Kroenke bought out Usmanov for £550m. Now owning more than 90% of the shares, he had the required stake to complete the buyout of the remaining shares and become the sole owner.<ref>{{cite news |title=U.S. Billionaire Gets Full Control of Arsenal, Buying Out Russian Rival |url=https://www.nytimes.com/2018/08/07/sports/soccer/arsenal-alisher-usmanov-stan-kroenke.html |archive-url=https://ghostarchive.org/archive/20220101/https://www.nytimes.com/2018/08/07/sports/soccer/arsenal-alisher-usmanov-stan-kroenke.html |archive-date=1 January 2022 |url-access=limited |work=[[The New York Times]] |date=7 August 2018 |access-date= 7 August 2018|last1=Panja |first1=Tariq }}{{cbignore}}</ref> There has been criticism of Arsenal's poor performance since Kroenke took over, which has been attributed to his ownership.<ref>{{cite news |title=Arsenal's problems lie with Kroenke's ownership rather than Arteta |last=Ronay |first=Barney |newspaper=The Guardian |date=25 December 2020 |url=https://www.theguardian.com/football/2020/dec/25/arsenals-problems-lie-with-kroenkes-ownership-rather-than-arteta |access-date=25 December 2020 |archive-date=25 December 2020 |archive-url=https://web.archive.org/web/20201225135455/https://www.theguardian.com/football/2020/dec/25/arsenals-problems-lie-with-kroenkes-ownership-rather-than-arteta |url-status=live}}</ref> [[Ivan Gazidis]] was the club's Chief executive from 2009 to 2018.<ref name="Arsenal Board"/><ref>{{cite news |title=Arsenal chief Gazidis leaves for Milan |publisher=BBC Sport |url=https://www.bbc.co.uk/sport/football/45558978|access-date=4 May 2021 |archive-date=28 November 2018 |archive-url=https://web.archive.org/web/20181128033956/https://www.bbc.co.uk/sport/football/45558978 |url-status=live}}</ref>

Arsenal's parent company, Arsenal Holdings plc, operates as an unlisted [[public limited company]], whose ownership is considerably different from that of other football clubs. Only 62,219 shares in Arsenal have been issued,<ref name="Arsenal Board"/> and they are not traded on a public exchange such as the [[FTSE Group|FTSE]] or [[Alternative Investment Market|AIM]]; instead, they are traded relatively infrequently on the [[ICAP (company)|ICAP]] Securities and Derivatives Exchange, a specialist market. On 29 May 2017, a single share in Arsenal had a [[mid price]] of £18,000, which sets the club's [[market capitalisation]] value at approximately £1,119.9m.<ref name="Arsenal, NEX Exchange">{{cite web |title=Arsenal Holdings plc |url=http://www.nexexchange.com/member?securityid=10092 |website=nexexchange.com |publisher=NEX Exchange |access-date=29 May 2017 |archive-date=26 May 2017 |archive-url=https://web.archive.org/web/20170526080650/http://www.nexexchange.com/member?securityid=10092 |url-status=live}}</ref> Most football clubs are not listed on an exchange, which makes direct comparisons of their values difficult. Consultants Brand Finance valued the club's brand and intangible assets at $703m in 2015, and consider Arsenal an AAA global brand.<ref name="World Football Brands">{{cite web |title=Football 50 2015 |url=http://brandfinance.com/images/upload/bf_football_50_for_website.pdf |website=brandfinance.com |publisher=Brand Finance |access-date=22 March 2016 |url-status=dead |archive-url=https://web.archive.org/web/20160408143449/http://brandfinance.com/images/upload/bf_football_50_for_website.pdf |archive-date=8 April 2016 }}</ref> Business magazine ''[[Forbes]]'' [[Forbes' list of the most valuable football clubs|valued]] Arsenal as a whole at $2.238&nbsp;billion (£1.69&nbsp;billion) in 2018, ranked third in English football.<ref name=Forbes2018>{{Cite news |url=https://www.forbes.com/soccer-valuations/list/#tab:overall |title=The Business of Soccer |last=Ozanian |first=Mike |work=Forbes |access-date=27 June 2018 |archive-date=20 August 2020 |archive-url=https://web.archive.org/web/20200820010417/https://www.forbes.com/soccer-valuations/list/#tab:overall |url-status=live }}</ref> Research by the [[Henley Business School]] ranked Arsenal second in English football, modelling the club's value at £1.118&nbsp;billion in 2015.<ref name="Markham 2015">{{cite web |last1=Markham |first1=Tom |title=WHAT'S YOUR CLUB REALLY WORTH? |url=http://www.sportingintelligence.com/2015/08/21/from-man-utd-at-1-8bn-to-cherries-at-104m-whats-your-club-worth-210803/ |website=sportingintelligence.com |publisher=Sporting Intelligence |access-date=28 March 2016 |archive-date=8 April 2016 |archive-url=https://web.archive.org/web/20160408104931/http://www.sportingintelligence.com/2015/08/21/from-man-utd-at-1-8bn-to-cherries-at-104m-whats-your-club-worth-210803/ |url-status=live }}</ref><ref name="MMM">{{cite journal |last1=Markham |first1=Tom |title=What is the Optimal Method to Value a Football Club? |journal=SSRN |year=2013 |doi=10.2139/ssrn.2238265 |ssrn=2238265|s2cid=153760884 |url=https://pdfs.semanticscholar.org/fd34/9ec29270e2390f0fc782a21be0606b940afd.pdf |archive-url=https://web.archive.org/web/20200227023355/https://pdfs.semanticscholar.org/fd34/9ec29270e2390f0fc782a21be0606b940afd.pdf |url-status=dead |archive-date=27 February 2020 |issn = 1556-5068}}</ref>

Arsenal's financial results for the [[2019–20 Premier League|2019–20]] season showed an after tax loss of £47.8m, due in part to the impact of the [[COVID-19 pandemic]].<ref>{{cite web|last=Collings|first=Simon|date=5 March 2021|title=Arsenal record £47.8m loss as pandemic hits 2019/20 finances|url=https://www.standard.co.uk/sport/football/arsenal-financial-results-2020-47-million-pound-loss-record-pandemic-b922487.html|access-date=4 May 2021|website=www.standard.co.uk|archive-date=4 May 2021|archive-url=https://web.archive.org/web/20210504213304/https://www.standard.co.uk/sport/football/arsenal-financial-results-2020-47-million-pound-loss-record-pandemic-b922487.html|url-status=live}}</ref> The [[Deloitte Football Money League]] is a publication that homogenises and compares clubs' annual revenue. Deloitte put Arsenal's footballing revenue in 2019 at £392.7m (€445.6m),<ref name="cityam1">{{cite web|date=14 January 2020|title=World's richest football clubs 2020: Barcelona replace Real Madrid at top of Deloitte Football Money League as Manchester United are left behind|url=https://www.cityam.com/worlds-richest-football-clubs-2020/|access-date=4 May 2021|website=CityAM|archive-date=4 May 2021|archive-url=https://web.archive.org/web/20210504213321/https://www.cityam.com/worlds-richest-football-clubs-2020/|url-status=live}}</ref> ranking Arsenal eleventh among world football clubs.<ref name="Deloitte Football Money League"/> Arsenal and [[Deloitte]] both listed the match day revenue generated in 2019 by the Emirates Stadium as €109.2m (£96.2m).<ref name="cityam1"/>