Spotify CEO Daniel Ek is getting back up and trying again.
Last month, the 38-year-old billionaire made an offer to acquire Arsenal FC from Stan Kroenke for $2.55 billion but was told that the latter doesn’t need the money. Ek put the bid together with team legends Thierry Henry, Patrick Vieira, and Dennis Bergkamp.
Now, the Spotify co-founder worth $4 billion is reportedly set to increase his bid to $2.83 billion, according to Sky Sports.
Kroenke is the world’s 14th-richest sports team owner with an estimated net worth of $8.2 billion.
Through his holding company Kroenke Sports & Entertainment, the 73-year-old real estate mogul also owns the Los Angeles Rams, Denver Nuggets, Colorado Avalanche, and the Colorado Rapids of MLS.
KSE has had full control of Arsenal since 2018.
Ek attempted to take advantage of the Super League fallout by appealing to fans who called for the club’s current ownership to resign, but Kroenke refused to budge.
However, the attempt to join the breakaway league has cost Arsenal.
- Agreed to a settlement with the Premier League along with Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham.
- Total settlement cost reached $31.1 million ($5.2 million per squad).
- Funds will go to grassroots and community soccer programs, among other initiatives.
Ek faces an uphill battle with a Kroenke family that is “100 percent committed to Arsenal,” according to a statement in April.
Arsenal is valued at $2.8 billion and generated $430 million in revenue for the 2019-20 season, per Forbes.