Arsenal: Stan Kroenke says Gunners shares 'are not, and have never been, for sale'
Arsenal majority shareholder Stan Kroenke says his shares "are not, and have never been, for sale".
The American's company released a statement on Monday following the recent £1bn bid by Alisher Usmanov to take full control of the Gunners.
Kroenke Sports and Entertainment added it was "a committed, long-term investor in Arsenal and will remain so".
The statement comes a day after Arsenal failed to qualify for the Champions League for the first time in 20 years.
Kroenke has a 67% stake in Arsenal. Usmanov owns 30% but is not part of the board or decision-making at the club.
The Uzbek-born Russian said in April that Kroenke must "bear huge responsibility" for the club's failures on the pitch.
The Gunners, who finished fifth in the Premier League this season, face Chelsea in the FA Cup final on Saturday.
Arsenal legend Ian Wright says the club needs the spending power of a billionaire such as Usmanov, adding "something has to change".
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The statement from Kroenke did not mention the future of Gunners boss Arsene Wenger, whose contract expires in the summer.
Wenger, who has been the target of protests from some of the club's fans, says the situation will be decided after the FA Cup final.
However, he blamed the uncertainty over his future for contributing to the club failing to qualify for the Champions League.
'Arsenal need a winner like Abramovich'
The Gunners' London rivals Chelsea won the Premier League this season - the fifth time they have done so under the ownership of billionaire Roman Abramovich, who has spent heavily since taking control in 2003.
"Abramovich is a winner," added Wright, who scored 185 goals in 288 appearances for Arsenal.
"Stan Kroenke sees it as another asset. If you look at all his other franchises, they are doing the same. They are mediocre, with poor attendances and aren't achieving anything as a team. That is where Arsenal are at the moment.
"We need an owner like Abramovich, who wants to win. I would swap Arsenal's last 10 years for what Chelsea have done."