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Sep 30, 2009

Kroenke increases Arsenal stake yet again

Stan Kroenke has increased his stake in Arsenal to 28.7%, intensifying the belief that the American could launch a takeover of the club.

The American billionaire businessman has bought 80 more shares, just days after the Gunners announced record profits, edging him closer to the 29.9% mark that would trigger a formal takeover offer for the remainder of the club.

Kroenke, who is on the board, held a 12.38% stake one year ago, but has since bought shares from the Carr brothers and Danny Fiszman, a director who was formerly the club's biggest shareholder.

His last share purchase was in July when he upped his stake to 28.58% but if Kroenke, with an estimated fortune of $3 billion, is planning a takeover, it would likely be vehemently opposed by an Arsenal board keen to remain self-financing.

After more than doubling his stake over the last year, the owner of the NBA's Denver Nuggets, the NHL's Colorado Avalanche, and the Colorado Rapids of Major League Soccer, bought his latest 80 shares at £8,500 each.

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