Kroenke increases Arsenal stake yet again
American businessman Stan Kroenke has increased his stake in Arsenal again, which means he is edging closer to a full takeover of the club.
The Gunners announced on Thursday that Kroenke has spent $1.2 million buying 90 shares to increase his holding from 28.7% to 28.9%, just short of the 29.9% threshold that would trigger a mandatory offer for the remaining shares.
The 62-year-old Kroenke, who also owns Major League Soccer's Colorado Rapids, bought up 80 shares a fortnight ago and has been praised as a "model owner" by Arsenal chief executive Ivan Gazidis.
He is now the club's largest shareholder, with a total of 17,957 shares and according to a stock exchange announcement, he bought the latest 90 shares at a price of £8,500 each.