Billionaire sports mogul Stan Kroenke made international headlines on Wednesday after it was revealed that he had spent a significant chunk of his £4.3billion fortune on a 535,000-acre ranch in Texas. To put that in context, it covers a bigger area than Los Angeles.
The W.T Waggoner Ranch has set Kroenke back a cool £500m, which you may think represents a large portion of his cash. However, his wife, Ann Walton, has £3.3billion of her own in the bank, so he's still sitting rather pretty when it comes to money.
Kroenke is a controversial figure in the US at the moment after moving his NFL team, the St Louis Rams, to Los Angeles and was openly criticised by a top lawyer in a Super Bowl advert on Sunday for that very thing. Across the pond, he is also annoying Arsenal fans.
As the club's majority shareholder, the Gunners faithful had always hoped that he would bankroll their efforts to become England's top club once again with big transfer budgets. However, so far he has only seemed interested in taking money out of the Emirates and has twice received a £3m fee for "advisory services", much to the disgust of Arsenal fans all over the world.
Needless to say, this latest news, in which Kroenke has significantly increased his property portfolio instead of giving Arsenal cold, hard cash, has only reminded fans that this American tycoon is only interested in making more money for himself.
Arsenal fans, including Piers Morgan, have taken to Twitter in their droves to question whether or not Kroenke is good for their club. Many, as you would expect, are calling for him to sell his shares and move on.
The inconvenient truth
Arsene Wenger has always been a frugal spender himself and it was widely reported that he had plenty of money on his side in the summer transfer window. However, the market was short of world-class quality, so he chose to keep his chequebook closed.
Also, Arsenal have probably signed the best player on the market in each of the last three seasons with Mesut Ozil, Alexis Sanchez and Petr Cech in consecutive summer windows. That is proof that Wenger has been given backing by Kroenke to make big signings.
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