The stake, which was previously owned by commercial broadcaster ITV, entitles KSE UK UK to an interest in Arsenal.com, which controls the club's internet rights. As part of the agreement ITV will pay the club £1 million for certain rights and cease to be the commercial agent for Arsenal. It will also no longer represent the licensing activities at Arsenal.
Kroenke Sports Enterprises is owned by Stan Kroenke, a shareholder in Arsenal. Paul Andrews, KSE Executive Vice-President and Chief Marketing Officer said: “KSE is looking forward to a long and prosperous partnership with Arsenal Football Club. These arrangements will allow KSE to further develop soccer in the United States and capitalise on the experience and strength of Arsenal Football Club".
