In March 2007 Fiszman sold a block of 659 shares for over £3.9m to Stan Kroenke Sports Enterprises (KSE).[7] This was a significant sale as reducing his stake to less than 25% resulted in a loss of veto rights over any future changes to the company statutes. Speculation linked this with a move abroad where he would substantially reduce any Capital Gains Tax liability that would come with a sale of his stake in the club.[8] Fiszman stated his desire not sell any more of his shares for the foreseeable future,[9] after the sale of 5,000 ordinary shares to Kroenke takes the American's stake in Arsenal Holdings plc to 12,756 Shares (representing 20.5%). On 27 March 2009 Fiszman sold 5,000 ordinary shares of £1 each in Arsenal Holdings plc to KSE, UK, Inc, at a price of £8,500 per share.
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