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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.

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