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%.