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Daniel Ek says he’s “secured the funds” to buy Arsenal as Spotify share price dips

By | Published on Thursday 29 April 2021

Spotify Press Announcement

Spotify CEO Daniel Ek is continuing with his attempts to buy Arsenal football club, despite its current owners insisting it’s not for sale – saying that he has “secured the funds” to do so. He announced last week that he intended to make a £1.8 billion bid for the club.

Speaking to CNBC yesterday, Ek said: “I am very serious. I have secured the funds for it. I want to bring what I think is a very compelling offer to the owners, and I hope they hear me out”.

Arsenal is currently owned by US-based Kroenke Sports & Entertainment, which many fans see as being responsible for a dip in the club’s success, finishing eighth in last year’s Premier League. It was also the target of protests by fans last week over its involvement in the failed attempt to set up a European Super League.

In a statement earlier this week, the Kroene family said that they are “100% committed to Arsenal and are not selling any stake in the club” and would therefore “not entertain any offer” to buy it.

Still, Ek says that he sees “a tremendous opportunity to set a real vision for the club, to bring it back to its glory”. It’s not entirely clear where he has secured funding from, and how much of his own money he will be putting in.

Ek’s continued enthusiasm for becoming a football club owner coincides with the latest quarterly financial results from Spotify. The announcement resulted in a slight dip in the company’s share price, seemingly as a result of a lower than expected forecast for user growth.

Watch Ek’s CNBC interview here: