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Spotify CEO and cofounder Daniel Ek said Arsenal football club's owners rejected his takeover bid.
"They replied that they don't need the money," Ek said on Twitter.
Arsenal fans last month protested the club's attempt to join the doomed European Super League.
Daniel Ek, CEO and cofounder of Spotify, on Saturday said his takeover bid for Britain's Arsenal Football Club had been rejected, but he was still interested in the deal.
"I respect their decision but remain interested and available should that situation ever change," the billionaire said in a statement posted on Twitter.
Ek spoke out to confirm that he'd made a bid for the Premier League club, disputing media reports that said he hadn't pursued a deal. He didn't disclose his offering price.
Kroenke Sports & Entertainment took ownership of the club in 2018. That deal valued Arsenal at about $2.33 billion at the time.
Arsenal last month was one of 12 top European clubs to propose breaking away from their leagues to from the European Super League. Arsenal fans in London took to the streets in protest, calling for Kroenke to sell the club. Within days, the Super League plans fell apart.
Ek in April also announced his plan to bid for the club, leading a consortium that included former players. In the interim, media reports said he didn't submit a bid, according to Ek.
On Saturday, he wrote: "I think it's important to correct the record - this week an offer was made to both Josh Kroenke and their bankers that included fan ownership, representation at the board and a golden share for the supporters."
He added: "They replied that they don't need the money."
Read the original article on Business Insider