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By ESPN Staff

Kroenke buys stake in Arsenal

DENVER -- Colorado real estate developer Stan Kroenke bought a 9.99 percent stake in London's Arsenal soccer team from the British television network ITV.

Kroenke said Thursday that he also entered into "conditional arrangements" with ITV involving the sale of the network's 50 percent share in Arsenal Broadband. Kroenke already owns the NBA's Denver Nuggets and the NHL's Colorado Avalanche, co-owns the NFL's St. Louis Rams and operates Major League Soccer's Colorado Rapids.

Kroenke Sports Enterprises announced in February it had formed a partnership with Arsenal to exchange business, commercial and marketing information and share coaching and training philosophies.

Tom Hicks and George Gillett Jr. completed their takeover of the Liverpool soccer team last week. Hicks owns baseball's Texas Rangers and the NHL's Dallas Stars, and Gillette owns the NHL's Montreal Canadiens.

Tampa Bay Buccaneers owner Malcolm Glazer controls Manchester United and Cleveland Browns owner Randy Lerner took over Aston Villa this season.