Supporters and Ownership and finances

Supporters

For more details on this topic, see Arsenal F.C. supporters.
Arsenal fans often refer to themselves as "Gooners", the name derived from the team's nickname, "The Gunners". The fanbase is large and generally loyal, and virtually all home matches sell out; in 2007–08 Arsenal had the second-highest average League attendance for an English club (60,070, which was 99.5% of available capacity), and as of 2006, the fourth-highest all-time average attendance. The club's location, adjoining wealthy areas such as Canonbury and Barnsbury, mixed areas such as Islington, Holloway, Highbury, and the adjacent London Borough of Camden, and largely working-class areas such as Finsbury Park and Stoke Newington, has meant that Arsenal's supporters have come from across the usual class divides. In addition, Arsenal have the highest proportion (7.7%) of non-white attending supporters of any club in English football, according to a 2002 report.
Like all major English football clubs, Arsenal have a number of domestic supporters' clubs, including the Arsenal Football Supporters Club, which works closely with the club, and the Arsenal Independent Supporters' Association, which maintains a more independent line. The Arsenal Supporters' Trust promotes greater participation in ownership of the club by fans. The club's supporters also publish fanzines such as The Gooner, Highbury High, Gunflash and the less cerebral Up The Arse!. In addition to the usual English football chants, supporters sing "One-Nil to the Arsenal" (to the tune of "Go West") and "Boring, Boring Arsenal", which used to be a common taunt from opposition fans but is now sung ironically by Arsenal supporters when the team is playing well.
There have always been Arsenal supporters outside of London, and since the advent of satellite television, a supporter's attachment to a football club has become less dependent on geography. Consequently, Arsenal have a significant number of fans from beyond London and all over the world; in 2007, 24 UK, 37 Irish and 49 other overseas supporters clubs were affiliated with the club. A 2005 report by Granada Ventures, which at the time owned a 9.9% stake in the club, estimated Arsenal's global fanbase at 27 million.
Arsenal's longest-running and deepest rivalry is with their nearest major neighbours, Tottenham Hotspur; matches between the two are referred to as North London derbies. Other rivalries within London include those with Chelsea, Fulham and West Ham United. In addition, Arsenal and Manchester United developed a strong on-pitch rivalry in the late 1980s, which intensified in recent years when both clubs were competing for the Premier League title – so much so that a 2003 online poll by the Football Fans Census listed Manchester United as Arsenal's biggest rivals, followed by Tottenham and Chelsea. A 2008 poll listed the Tottenham rivalry as more important.

Ownership and finances

Arsenal's parent company, Arsenal Holdings plc, operates as a non-quoted public limited company, whose ownership is considerably different from that of other football clubs. Only 62,217 shares in Arsenal have been issued, and they are not traded on a public exchange such as the FTSE or AIM; instead, they are traded relatively infrequently on PLUS (AFC), a specialist market. At 31 August 2010, a single share in Arsenal had a mid price of £10,250, which set the club's market capitalisation value at approximately £637.74m. The club made a pre-tax operating profit (excluding player transfers) of £62.7m in the year ending 31 May 2009, from a turnover of £313.3m.
In April 2010, business magazine Forbes ranked Arsenal as the third most valuable football team in the world, after Manchester United and Real Madrid, valuing the club at $1.181bn (£768m), excluding debt.
In total, Arsenal F.C.'s board of directors currently hold 45.2% of the club's shares; the largest shareholder on the board is American sports tycoon Stan Kroenke, who launched a bid for the club in 2007, and in November 2009 increased his holding to 18,594 shares (29.9%). Other directors with significant holdings are diamond dealer Danny Fiszman, who holds 10,025 shares (16.1%), and club chairman Peter Hill-Wood, who owns 400 (0.64%); the other directors each hold nominal amounts. Former director Lady Bracewell-Smith (wife of the grandson of former chairman Sir Bracewell Smith) holds 9,893 shares (15.9%).
A rival bid to Kroenke's came from Red & White Securities, which is co-owned by Russian billionaire Alisher Usmanov and London-based financier Farhad Moshiri. Red & White launched its bid in August 2007, buying the stake held by former Arsenal vice-chairman David Dein, and as at February 2009 owned 15,555 shares (25.0%) in the club. This led to press speculation of a bidding war between Kroenke and Usmanov. However, Kroenke agreed not to purchase more than 29.9% of the club until at least September 2009, while the rest of the board have first option on each others' shares until October 2012.