Stan Kroenke buys more shares in Arsenal

23 November 2009 | By Adam Fraser

Contract summary

Length of contract: n/a
Annualised value: n/a
Overall value: US$135,000

Stan Kroenke, the American billionaire, has reportedly secured another ten shares in English soccer club Arsenal, inching closer to passing the 29.99 per cent mark that would oblige him to make an outright takeover bid for the club.

Kroenke already owns more than 29.9 per cent of the club, and securing just 62 more shares would trigger the mandatory bid - though whether Kroenke has any desire for that to happen is a much-debated point.

Kroenke is believed to have spent around US$135,000 on the ten shares. Don Garber, the Major League Soccer commissioner, admitted last month that he has discussed his compatriot's plans for the club.

"Stan Kroenke is very, very bright and a capable sports man - with his NBA teams, NHL teams and Major League Soccer team - and I think he will be a good owner of Arsenal," Garber told The Associated Press.

Got an opinion on this story? Send your thoughts to comment@sportspromedia.com.