Thank God for the Kroenkes. Part 2.
In part 1 (
we looked at different ownership models, which were best for the long-term security of a club. The Barca/Madrid/Bayern model where fans own 51% of the club and a rich individual is elected to preside for
In part 1 (
we looked at different ownership models, which were best for the long-term security of a club. The Barca/Madrid/Bayern model where fans own 51% of the club and a rich individual is elected to preside for
a term/cycle is the best. But it requires two things:
โLocation in a major, economically successful city.
โHigh cultural heritage.
These two factors ensure that the club always has rich individuals who want to be a part of the club. Only a few clubs can copy this model and be
โLocation in a major, economically successful city.
โHigh cultural heritage.
These two factors ensure that the club always has rich individuals who want to be a part of the club. Only a few clubs can copy this model and be
successful over long periods. Even if a club like Almeria FC secures a rich president once, they can't consistently secure another if the current rich president turns out bad, retires or finishes his cycle. Hence, whatever success they may have is short-lived. They are condemned
to middling obscurity in the longterm while the likes of Barca or Madrid are always sure of finding another rich individual to preside over the club.
So, how do you replicate this sort of long-term security and relevance for your own club anywhere in Europe? We looked at another
So, how do you replicate this sort of long-term security and relevance for your own club anywhere in Europe? We looked at another
model of ownership: family businesses.
Family businesses have a long, storied history of success. From Samsung Electronics to Volkswagen/Porsche, from Ambani Industries to Oracle, family businesses are famous for their stability and health over extended periods of time.
Family businesses have a long, storied history of success. From Samsung Electronics to Volkswagen/Porsche, from Ambani Industries to Oracle, family businesses are famous for their stability and health over extended periods of time.
Family businesses have their disadvantages but as much as it concerns football clubs, these disadvantages are quite mitigated.
This model of ownership replicates the best part of the other models, especially when the family in question is wealthy and from a stable background.
This model of ownership replicates the best part of the other models, especially when the family in question is wealthy and from a stable background.
Like I said, the IDEAL family ownership model replicates the best parts of other models.
โThe reliable, long-term access to funds that is found in the Madrid/Barca model.
โThe personal care and attachment to the club that is found in other models is replicated over time.
โThe reliable, long-term access to funds that is found in the Madrid/Barca model.
โThe personal care and attachment to the club that is found in other models is replicated over time.
(As a family heirloom, the club becomes part of the identity of the family. The children will grow up to be massively attached to the club and their children, too. This has already happened to Arsenal with the Bracewell-Smiths and Hillswoods over 3 generations).
โThe supervisor care of a club found in the other models happens, too. (Since, in most cases, the family itself cannot directly run the club, they usually have to rely on a hired superintendent to run the club. As you have Txiti Bergesterain at City, you can have Rangnick at
Leipzig and Wenger at Arsenal). So, the club does not necessarily have to miss out on a directorial supermind, especially when the family cares about the club: they hire the best possible supervisor.
And the curious thing with this model is that it gets better with time.
And the curious thing with this model is that it gets better with time.
Even if something happens to the rich and stable family owners (rarely so), they care about the club enough to make sure that they should pass it on to a reflection of themselves: another family that is sure to take care of the club. This has already happened with Arsenal FC.
The USA is one of the most politically and economically stable countries in the world comparatively (despite recent events). If you are looking for the right background to pass on the ownership of Arsenal FC to, families from the USA must be high on your list.
In the last part, we saw how David Dein and Arsene Wenger, motivated out of a desire to elevate Arsenal to the very top, tried to make sure that Arsenal FC was as secured as possible in the right ownership model. The previous family owners of Arsenal, while rich, were not rich
enough, especially in comparison to Oligarch billionaires like Roman Abrahamovich or even entire nation-states like Abu Dhabi or the UAE.
They saw the future: under our previous owners, with the increasing relevance of super-rich owners, the future of Arsenal was in real danger.
They saw the future: under our previous owners, with the increasing relevance of super-rich owners, the future of Arsenal was in real danger.
Risk is not equal to certainty. But you still want to put yourself in the best probable outcome possible.
Note that China had not even entered the game yet and large corporations from the USA were gradually looking at lucrative European football. Arsenal was in real danger.
Note that China had not even entered the game yet and large corporations from the USA were gradually looking at lucrative European football. Arsenal was in real danger.
It doesn't matter how smartly you recruit or run the club if 5-6 Chelseas/Citys are in your league. There is no margin for error. You will fall out of relevance in the long run trying to keep up with what these clubs are capable of. At best, you become a permanent feeder club.
Dortmund is what you are going to be if you are well-run. You will, at best, be preparing the Jadon Sanchos and Kylian Mbappes of this world for the Madrids and Citys to come along and take whenever they want. That is the best case scenario. Now, even Villa have a billionaire.
Arsenal must move into the hands of a billionaire. That is what David Dein decided. Dein, a man with contacts everywhere, found the Kroenkes.
The Kroenkes are the perfect owners on paper. Just stay with me.
Not only are they rich enough to out muscle Roman Abrahamovich if they
The Kroenkes are the perfect owners on paper. Just stay with me.
Not only are they rich enough to out muscle Roman Abrahamovich if they
so wish, they are rich enough to challenge nation-states. The Kroenkes have the right of inheritance to Walmart.
Do you know how huge that is?
It is like being owned by Apple. Money would never be a real problem for Arsenal anymore. Even against nations. And not only that.
Do you know how huge that is?
It is like being owned by Apple. Money would never be a real problem for Arsenal anymore. Even against nations. And not only that.
By being American, the Kroenkes come from one of the most stable backgrounds possible. Wars, famines, epidemics and plagues โ it almost doesn't matter to Arsenal. We are as insulated as possible from geopolitical issues, more than Chelsea can dream of.
The Kroenkes are also even more perfect in that they already own a portfolio of sporting franchises all over. It's the dream scenario. You almost can't cook up something better.
So, what's the problem?
David Dein was. You see, in real life, perfect hero stories are rare.
So, what's the problem?
David Dein was. You see, in real life, perfect hero stories are rare.
David Dein had done extremely good for Arsenal. But he allowed his personal ambition to come in the way.
Normally, it would have been very difficult for the family owners of Arsenal to relinquish their shares in the club. Realistically, it would have been too hard to work.
Normally, it would have been very difficult for the family owners of Arsenal to relinquish their shares in the club. Realistically, it would have been too hard to work.
So David Dein planned an hostile takeover. A coup d'etat to be more precise. He was going to make sure that the former owners relinquished their control. He would turn to the dark side. He would betray his own friends. He would become the inside-man.
All for the new Arsenal.
All for the new Arsenal.
You see, the Bracewell-Smiths and Hillswoods were relics. They could not see the coming changes in football. Even if they did, they could not do anything about it. They had grow too attached to their stocks.
They simply were not fit to lead Arsenal into the New World Order.
They simply were not fit to lead Arsenal into the New World Order.
David Dein would be the man to usher Arsenal into the New Age. He was fit to.
Nothing good can come without sacrifice. And, he, David Dein, would be the first to sacrifice.
He would sell his own ownership rights, first.
All for the good of Arsenal.
(to be continued).
Nothing good can come without sacrifice. And, he, David Dein, would be the first to sacrifice.
He would sell his own ownership rights, first.
All for the good of Arsenal.
(to be continued).
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