(MENAFN) A Middle Eastern group is set to offer USD2.3 billion takeover bid for UK's Arsenal Football Club in the biggest-ever takeover of a soccer team, The Telegraph reported.
The paper said that the bid will take place in the next few weeks, seeking to buy out the current majority owner, US sports investor Stan Kroenke.
The Middle Eastern investors do not want to reveal their identities yet but will be backed by funds from Qatar and the UAE, the newspaper added.
The paper also said that the consortium would pledge to reduce ticket prices at Arsenal's Emirates Stadium in London.
This won't be the first acquisition made by Gulf investors. Manchester City, the current English Premier League champions, was bought by a member of the Abu Dhabi royal family in 2008, while Kuwait's al-Hasawi family bought twice European Cup winners Nottingham Forest in July last year. France's Paris St Germain and Spain's Malaga are owned by Qatari investors.
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