What’s Wrong With Nina Bracewell-Smith!?

This afternoon the news is full of Arsenal takeover speculation with our fourth largest shareholder, Nina Bracewell-Smith, having reportedly hired a firm to sell her shares.

The first thought that came to my mind as I went through this news was – What’s wrong with this lady!?

In the past she’s said she had no intention of selling her shares. But suddenly when the title race is hotting up and the club should be fully focused on football here we have another bit of side business taking the headlines.

In theory, this should be a business issue and completely separate from the football side of the club. In practice, we all know that cannot be the case. I’m certain there will be some questions about this put to Arsene and even to the players if the hacks can get to them. Wenger can probably handle any mess the media creates and I’m hoping the players and the staff will remain insulated from the petty games shareholders are playing.

The timing is what irks me most. Bracewell-Smith has had her problems with the board but she’s maintained her dignity so far. Why then the sudden urge to sell her shares at this point? If she waited so long surely she can hold on to them for a month or so more.

In any case I doubt she will be selling her complete share to either of the takeover protagonists. If Kroenke and Usmanov had enough money to launch the takeover they would have acquired the 30% stake and made an offer. Considering the fact that we are talking in terms of hundreds of millions of pounds, most likely in excess of half a billion, I will be really surprised if anyone can buy her complete stake.

The only positive I can think of is that Kroenke is close to selling his stake in St. Louis Rams and could be in the middle of preparing a takeover bid. In that case you could understand that Bracewell-Smith wants professionals to handle her case for her. Although, if that were the case, I’d really wonder why the present board and Kroenke are bringing this up at this time. Knowing that our board has generally been extremely prudent I can’t see them getting into such a situation with just a few big weeks left in the season.

Do the board want to finish this process quickly so that we have a new owner before the next transfer window? That could certainly be one way of justifying the timing. If that’s the case then I guess Arsene must be in the loop and will know exactly what he is going to get in the summer.

The other problem here is the assumption that if Kroenke can raise enough cash to make a bid, Usmanov will surrender without a fight. Who is to say he can’t buy another 3-4% and launch a bid of his own!? Is this really the time when we want to test that?

Why can’t all of them just go about it in the Arsenal way, quietly and behind closed doors. To an extent I must give credit to the American, he hasn’t really made any controversial moves, at least in public.

I’m really disappointed with the timing of this move from Nina Bracewell-Smith. Here’s hoping it doesn’t turn into anything worse.


24 Responses to What’s Wrong With Nina Bracewell-Smith!?

  1. Neal says:

    Whilst we are still in with a chance of winning the title the shares will appear more valuable.

    • desigunner says:

      I thought that might be the case but those who are buying shares with such large amounts will surely like to wait and see how the season ends. I guess that’s one of the reasons for her failure to sell.

  2. Moda says:

    Nina stupid. The Indian woman who became a shareholder because he got married to Bracewell-Smith, a true Arsenal man who is ill. An opportunist of the highest order prepared to ditch Arsenal when she doesn’t even need the money.

  3. Moda – she has been trying to sell the shares since getting booted off the board last year.

    She has not succeeded, hence the need to hire a firm to find a buyer and pay them a commision.

    I agree with Desi that the timing is not good… but in a funny way, it may take some title pressure talk off the lads.

    • desigunner says:

      Hope you’re right. I was worried this will lead to talks of who is going to buy and then how much they will spend and so on. Even throw in the future of Wenger and all that. You know the typical nonsense.

  4. Nischit says:

    Desi, I honestly don’t care about the shares or what not right now. I’m super excited to see rockin’ robin back on the pitch and couldn’t care less where the shares fly around. heres hoping rockin’ robin gets on the pitch against the spuds and stuffs them silly.

    • desigunner says:

      You know I’m trying to keep my feelings in check. It would be really tough for RvP to come back and work miracles.

      And I’ve realized in the past that if I don’t keep my expectations realistic the disappointment is a killer.

  5. Menace says:

    Never mind the shares I think Nina should play up front with Bendtner. At least she will draw all the defenders!!

  6. TheSKAGooner says:

    The shares are currently valued at 10,000 pounds each. Kroenke is currently compelled to pay 10,500 pounds for any shares he buys. On May 1st Kroenke can buy shares at 8500 pounds. Lady Nina is highly unlikely to get the full value from either Kroenke or Usmanov presently, and given that she went to an advisory to handle selling the shares, it appears that no one will give her full value. She’ll still make a boatload of money, but A LOT less than market value for her holdings.

    I was originally thinking this might be a move to force Kroenke’s hand in order to keep Usmanov off the shares, but John Cross at The Mirror tweeted earlier today that NO ONE is interested in buying her stake outright and that neither Kroenke or Usmanov is planning to breach the 30% mark, which would trigger the automatic takeover bid, anytime soon.

    The most likely scenario is that the advisory will find buyers for small portions of her holdings on the open market and the shares will go for a range of prices.

    • desigunner says:

      Thanks for that post. Seems to make a lot of sense.

      In short, she wants to cash out to the extent possible and right now she’s getting nowhere on her own.

      Could be time for some speculators who would buy from her and sell at the time of the takeover. Quite a mess and hardly any benefit to the club.

  7. Damien says:

    I think this is her last attempt in triggering a bidding war between Kroenke and Usmanov. And maximise the price of her shares. For whoever buys her shares will automatically have to offer to buy the club. Which will be at the price she sets. Her goal is obviously to sell it higher than 8500 per share.

    Nobody else is going to buy her shares knowing that Kroenke is soon to trigger a takeover bid and offer the maximum share he paid for a year ago, which is 8500.

    What are the rules here? Is it, if Kroenke goes over the 30% threshold, he has to offer the rest of the shares at the highest price HE paid for. Or is it the highest price ANYONE has paid for in the past year??

  8. Hopefully, whoever takes over will get rid of Wenger and all influences he may have

  9. azed says:

    Cant we convince them moneybags at citeh to dump that shitte team and get a real team??? would it not be nice for the arsenal to get some arab money?????

  10. Aniruddh says:

    Stan is buying the rest of the stake in St. louis rams and not offloading it

  11. Hong_gunner says:

    Fuck Nina. It think she’s the same Nina Mercedez, aint she? She hasnt got a damn clue how a club is run and is there for no reason, apart from, yes, politics. As i cant find the link here, his NFL club(citation?) which he is rumoured to quit, he seems linient to the managers to let it run. Wenger will feel comfortable. It might be a bit niggling, but that can be sorted if Dean comes back. I dont mind the move. Wenger needs 2 key players though, one willing to be a good team player, and a keeper. May be a centre half as well. But as a back up to Djourou/Gallas/Wenger himself. Almunia is decent, but the thing is, people havent forgotten the class of Seamen, and madness and commitment of Lehman. Almunia can keep a team in top 4 hunt, but not to make a dominant team for the next few years. And even at his age. He’ll be in the squad though. Some players may depart. Kroenke is intelligent, so is Wenger. They both study their game, and make sure nobody and above all the fans are not disappointed.

  12. digger says:

    Why would anyone want to but 15.9% of a company for 80-100 million and not get paid a dividend on that return or for that fact see any kind of profit in the future, or have any say in how the club is run?
    I can see why she wants to sell as currently it’s dead money sitting there in shares and if I was her I’d want to liquify my assets and get the fuck right away from this mess, but, I don’t fancy her chances much!

  13. Matt says:

    What is Nina thinking? Selling at this juncture means you are not confident in the management.

    Has she given up hope of Arsenal winning another trophy under Arsene Wenger?

  14. […] Bukan sekali dua kali Arsenal dihantam oleh konflik manajemen. Beberapa bulan lalu pun Nina-Bracewell Smith menyesalkan penjualan saham dia kepada Kroenke di 2011. Lewat Twitter! Sangat menyesakkan melihat kondisi Arsenal dijepit oleh orang-orang yang mementingkan ego ketimbang maslahat klub. Nina-Bracewell Smith meski tidak lagi mempunyai saham Arsenal kini menjadi presiden kehormatan klub. Bukan kali ini saja manuvernya di media mengundang tanya, sebelum penjualan sahamnya pada Kroenke pun dia merilis pernyataan di media saat klub berjuang di klasemen EPL tahun 2010 (sumber). […]

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