Sports & Betting News

2009-11-03

The US billionaire Stan Kroenke has purchased another 427 shares in Arsenal's parent holding company at a cost of £3.6m ($5.86m) . The American has now increased his stake in the club to 29.6 per cent and moves closer towards the takeover threshhold. Should Kroenke, or the club's second-largest shareholder Alisher Usmanov, gain a stakeholding of 29.9%, they would, under the City rules, be obliged to launch a formal takeover bid.
Kroenke, who owns the NBA's Denver Nuggets and Colorado Rapids MLS football team, has been gradually increasing his stake in Arsenal this year through a number of different share purchases.

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