It was clear for some time that something needed to change at Arsenal but the pace of developments at the Emirates is unsettling. Stan Kroenke’s £600million offer to buy Alisher Usmanov’s 30 per cent stake in the club will allow the American to take the Gunners into private ownership. Uncertainty reigns at the Emirates.

The deal is surprising only in one detail. Usmanov’s shares have been up for sale for months. The Uzbek-born Russian businessman accepted defeat in his battle with Kroenke for control of Arsenal some time ago. The only shock is that he agreed to deal directly with the club’s majority owner. Usmanov was expected to save face by selling to a third party.

Should Arsenal fans be concerned? Kroenke, 71, can make swingeing changes in the way the business is run. As soon as his shareholding goes over 90 per cent, he can buy out the remaining independent shareholders. Annual General Meetings — for so long a cauldron of supporter discontent — will become a thing of the past.

The biggest worry is that the buyout will be financed by a loan. KSE, Kroenke’s company, admitted that £557m of the funding will be borrowed, but insist the club will not be responsible for the debt.

Leveraged buyouts produced years of financial uncertainty for some of Arsenal’s main rivals. Manchester United have paid more than £1billion in interest, fees and payments to the Glazer family since the team changed hands in 2005. Liverpool were taken to the brink of bankruptcy eight years ago by debt-ridden American owners.

A number of factors suggest Arsenal supporters should not worry unduly. Kroenke’s sporting empire is in good financial health. Two years ago he moved the Rams, his NFL franchise, from his home town of St Louis to Los Angeles. The value of the team more than doubled overnight.

The Rams are now worth more than $3bn but that does not take into account Kroenke’s profit on real estate purchased around their new stadium — due to open in 2020. Arsenal were once the financial powerhouse in KSE’s portfolio but the American is less financially reliant on them than half a decade ago.

Ivan Gazidis has driven change post-Arsene Wenger while the owner’s son, Josh, has become a growing influence at the Emirates over the past couple of years. The 38-year-old is the vice-president of KSE UK and has been on the Arsenal board since 2013.

Kroenke Sr has kept a largely low profile since taking over Arsenal seven years ago but his son flexed his muscles as the Arsene Wenger era came to an end. The family’s engagement with the club took on a new tone. Full control means Kroenke can sell the club any time he desires but it is unlikely to be part of his immediate plans. The deal values Arsenal at £1.8bn, slightly less than many football financiers expected. This perhaps reflects the static nature of the value of domestic TV rights. It is a good time for Kroenke to buy. If Arsenal were in the Champions League Usmanov could have pushed up the price.

The main aim for Kroenke is to get the club back into European football’s most prestigious competition and win trophies, as well as delivering a huge improvement on commerical revenues. This will require investment and more proactive involvement from the owner. In the short term at least supporters can expect the purse strings to be opened.

Arsenal had stability during the Wenger era but by the end of his tenure it had turned into a malign stasis. The Emirates has entered a new phase. In the end, Unai Emery was first choice as manager and Kroenke needs to back him.

The developments in north London are unsettling but the interests of Kroenke and the supporters are the same: to bring success to the club. Change is in the air at Arsenal but the Emirates has needed a shake-up for some time.