Stan Kroenke Source Bing.com
Introduction
When it comes to owning a football club, the financial aspect can be just as important as the on-field performance. Two of the most well-known owners in the English Premier League are Stan Kroenke, who owns Arsenal, and the Glazer family, who own Manchester United. These owners are known for their wealth and business acumen, but they also share another commonality: they both own private jets.
Glazer Family Source Bing.com
Who are Kroenke and the Glazers?
Stan Kroenke is an American businessman who has a net worth of around $10 billion. He made his fortune through real estate development and sports ownership, with a portfolio that includes the Los Angeles Rams (NFL), Denver Nuggets (NBA), and Colorado Avalanche (NHL). In 2011, he purchased a controlling stake in Arsenal, becoming the majority shareholder of the London club.The Glazer family, also American, made their wealth through real estate and shopping malls. In 2005, they acquired Manchester United in a controversial leveraged buyout, which led to protests from fans who believed the debt load would harm the club. The Glazers have a net worth of around $4.7 billion and are known for their private and reclusive nature.
The Private Jets
Both Kroenke and the Glazers own private jets, which they use to travel to and from football matches and other destinations. These planes are not just luxurious toys, but also essential business tools that allow the owners to conduct meetings and make deals while on the move.Kroenke’s private jet is a Bombardier Global Express XRS, which can seat up to 19 passengers and has a range of 6,150 nautical miles. The plane is registered in the United States and has the tail number N888WR. According to reports, Kroenke paid around $45 million for the jet, which is equipped with satellite TV, Wi-Fi, and other amenities.The Glazers, on the other hand, own a Gulfstream G550, which can seat up to 18 passengers and has a range of 6,750 nautical miles. The plane is registered in the United States and has the tail number N271DG. The Gulfstream G550 is known for its speed and range, and is a popular choice among high net worth individuals and corporations.
Why Private Jets Matter
Private jets are not just a status symbol, but also an important tool for business people who need to travel frequently and quickly. For sports team owners like Kroenke and the Glazers, private jets are especially important because they allow them to attend matches and meetings in different parts of the world without having to rely on commercial airlines.In addition, owning a private jet can also be a tax-efficient way to manage wealth. For example, the cost of operating a private jet can be deducted from taxable income, which can lead to significant savings over time.
Controversies
While owning a private jet is legal and common among the ultra-wealthy, Kroenke and the Glazers have faced criticism for their spending habits. Some fans and critics argue that the owners should focus on investing in their football clubs instead of buying expensive toys like private jets.In addition, the Glazers’ ownership of Manchester United has been controversial from the start. The leveraged buyout that they used to acquire the club left it heavily in debt, and some fans believe that this debt has prevented the club from investing in players and infrastructure as much as it should.
Conclusion
The ownership of Arsenal and Manchester United by Kroenke and the Glazers, respectively, has been the subject of much scrutiny and debate. While their private jets may seem like a minor detail in the grand scheme of things, they are indicative of the vast wealth and power wielded by these owners. As the business of football continues to grow and evolve, it remains to be seen how the role of private jets will change in the lives of club owners.
