November 23 – American businessman Stan Kroenke (pictured) has bought 10 more shares in Premiership club Arsenal to put him closer to the threshold that forces him to make a takeover bid.
The London club announced today that Kroenke, who is also a director of the club, has control of 18,604 ordinary shares in the company, representing 29.9 per cent.
If he reaches 30 per cent, he legally has to make a takeover bid.
Kroenke, a Denver-based businessman who owns the Colorado Rapids, Denver Nuggets and the Colorado Avalanche, has gradually increased his stake in Arsenal this year through a number of different share transactions.
Arsenal’s other main shareholders are Uzbeki tycoon Alisher Usmanov, who holds a stake of about 25 per cent, Danny Fiszman, and Lady Bracewell-Smith.
Kroenke attended Arsenal’s annual meeting at the Emirates last month but refused to publicly confirm whether he plans to launch a takeover or not.
At the start of this month 62-year-old Kroenke, who is listed in the Forbes 400 as one of the richest people in the world with a wealth estimated at $3.5 billion (£2.1 billion), bought another 427 Arsenal shares, which took his then stake in the club to 29.6 per cent.