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Dec 21, 2009

Stan Kroenke edges ever closer to Arsenal takeover

Arsenal's largest shareholder, Stan Kroenke, has once again increased his stake in the club and is now on the brink of a compulsory takeover bid.

Kroenke has been steadily accumulating shares in Arsenal and his latest purchase of 25 shares leaves him just 17 short of the 30% watershed which would force him to make an offer for the remainder of the club.

Arsenal confirmed on Monday that Kroenke paid £212,500 for the 25 shares and he now has a 29.9% stake in the North London side.

Kroenke, who also owns the NBA team Denver Nuggets and MLS side Colorado Rapids, is member of the Arsenal board.

The club's second-biggest shareholder is Alisher Usmanov who purchased the stake held by former vice-chairman David Dein in 2007 and has since increased his holding to around 26%.

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