Arsenalist

American businessman Stan Kroenke has moved a step closer to a possible takeover after increasing his stake in the club to 28.7%. 

Kroenke has acquired another 80 shares at a cost of £680,000 and is now just short of the 29.9% threshold that would require him to make an offer for the remaining shares. 

Stan Kroenke first became involved with Arsenal in 2007 when his KSE UK Inc group purchased a 9.99% shareholding. At the time there was talk of an impending takeover but this was greeted frostily by the club’s board, with chairman Peter Hill-Wood remarking: “Call me old-fashioned, but we don’t need his money and we don’t want his sort. 

“[Americans] know absolutely sweet FA about our football.” 

Since then, relations between board and investor have warmed considerably but any progress has remained cumbersome. Talks and share purchases have often resembled actions in a chess match, with Kroenke not only having to appease the long serving shareholders but also having to fight off competition from another billionaire tycoon by the name of Alisher Usmanov. 

The Russion metals magnate started to show an interest in the club shortly after Stan Kroenke and now owns just over 25%. A recent surge in share purchases led to a report in The Sun earlier this month that Usmanov was on the verge of a takeover. However, his interest since appears to have cooled and he is now the second biggest shareholder, just behind his American rival. 

The other shareholders appear to favour Kroenke due to his current links within the world of sport – he already owns the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche and  the Colorado Rapids of the MLS. 

However, with a new stadium in place and Arsenal’s pre-tax profits rising to £45.5million, it could be a good Premier League bet that they’ll could decide to remain at the club for the foreseeable future. 

Kroenke may have put the club into check but with Usmanov and the current incumbents still playing, a stalemate remains on the cards.