Kroenke ups Arsenal stake

American businessman just 17 shares away from threshold

By Carla Hilton   Last updated: 21st December 2009   Subscribe to RSS Feed

Kroenke ups Arsenal stake

Kroenke: More Arsenal shares

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American businessman Stan Kroenke has moved a step closer to launching a takeover bid for Arsenal having increased his stake in the club.

Kroenke is now within 17 shares of the threshold that forces him to make a takeover bid having invested another lump sum into the North London outfit.

The club have confirmed that the Denver-based businessman acquired 25 more shares last week, costing £212,500.

That takes his stake to 29.9 per cent - if he reaches 30 per cent he has to make an offer for the remaining shares.

Russian investor Alisher Usmanov is the club's second-largest shareholder with 26 per cent, but he has not been invited onto the board of directors.