Sky sources understand that American Stan Kroenke, Arsenal's largest shareholder, is in advanced talks to take control of the club.
American looks at Emirates buy-out
Sky sources understand that American Stan Kroenke is in advanced talks to take control of Arsenal.
Kroenke is the largest shareholder in the Gunners already owning a 29.9 per cent stake, indeed, a purchase of another 0.09 per cent of the shares would mean he has to make a bid for the rest of the club's shares.
Uzbek billionaire Alisher Usmanov also has more than a 20 per cent stake in the club - but now Kroenke has made a move to secure full control.
Sky sources understand that Kroenke has come to an agreement with fellow shareholders Danny Fiszman and Lady Nina Bracewell-Smith to purchase their shares.
Fiszman and Bracewell-Smith both own 16 per cent, and if Kroenke confirms those deals then under stock market rules, a takeover bid would be triggered.
Kroenke first took a stake in Arsenal in 2007 when he purchased the 9.9 per cent which was owned by Granada.
Kroenke has major interests in sporting teams throughout America as his company also owns the Denver Nuggets of the NBA, Colorado Rapids of Major League Soccer and the NFL's St. Louis Rams.
If Kroenke takes charge of Arsenal, they would be the fifth Premier League club to become American-owned, along with Manchester United, Aston Villa, Sunderland and most recently Liverpool.
Meanwhile, the Arsenal Supporters' Trust (AST) has given a cautiously optimistic welcome to the news that Kroenke is set to take a majority stake.
A statement said: "AST thinks it is really important that supporters remain involved in Arsenal's ownership structure.
"Stan Kroenke has a good relationship with the AST and recently supported our fanshare scheme.
"We are hopeful of having discussions with him to discuss how our members and Arsenal supporters can keep their shares in Arsenal Football Club."
