Arsenal outdone by Nottingham Forest – boardroom source lifts lid on Kroenke move
Arsenal are now regular Premier League title challengers and have not run into trouble with the financial rules despite spending big on new arrivals in recent years.
The Gunners are funded by US billionaire Stan Kroenke, who has loaned £259million to the club – but is being paid interest on that figure.
Meanwhile, Nottingham Forest owner Evangelos Marinakis converted £72million worth of loans into 7.2 billion shares last month.
That move came after it was confirmed any shareholder loans still in effect after 11 January must be submitted as an associated party transaction (APT) and undergo a fair market value assessment.
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested why Kroenke hasn’t chosen to follow Marinakis.
Kroenke charging Arsenal interest despite rivals’ moves
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness has claimed Arsenal will be charged a commercial interest rate on their £259million debt to Kroenke.
As well as Forest – Everton have also seen their shareholder debt written off by the new ownership ahead of the new rules coming in.
Wyness insisted Arsenal will not run into any issues with the Premier League and their APT rules.
He told Football Insider‘s Insider Track podcast: “Kroenke and his partners could have converted the debt into equity if he wanted to.
“I don’t know the details, but these shareholder loans must bear some interest for Arsenal.
“Therefore, they don’t need to be assessed for fair market value and don’t fall under the purview of sanctions under APT rules.
“I’m guessing there is an interest rate which Arsenal see as defensible.
“They will have taken advice on this, Arsenal are a very well-run club. I don’t foresee any issues for them.
“I just think they believe they are already paying fair interest.”
Arsenal confident of agreeing two summer transfers
On the pitch, Mikel Arteta’s side are confident of agreeing another summer deal – with negotiations already advanced for Real Sociedad star Martin Zubimendi.
Football Insider revealed on 10 February that Arsenal expect to finally land Espanyol goalkeeper Joan Garcia in the off-season.
The Gunners tried to sign Garcia last summer (2024) but instead agreed a loan for Neto – and they will not pursue a permanent move for the Bournemouth star in the summer.
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