Stan Kroenke, the American businessman who has more than doubled his stake in English soccer club Arsenal over the last 12 months, could trigger a takeover bid for the club by spending just US$9 million.
646 more shares in the club would take Kroenke to the 30 per cent mark that would oblige him to make an offer for the club's remaining shares. Whether or not that is his intention remains to be seen. 'There are strong signs that that will not be his strategy,' reported The Guardian newspaper on Thursday. 'His intention is said to be to reach the 29.9% limit, which he is expected to achieve within weeks, and staying at that level.'
- Arsenal boss Wenger expects Kroenke to complete takeover
- Arsenal set sights on breaking the USA as Kroenke ups investment
However, Don Garber, the commissioner of Major League Soccer, has said he expects his compatriot to complete the bid, while Arsenal chairman Peter Hill-Wood has also admitted he expects a bid.
"It does look like he is edging towards a takeover, which I would welcome," Hill-Wood told the Daily Star. "I have not asked him if that is what he plans to do, but I am very relaxed about it."
"If it was to happen, I don't think you can expect any big changes because he seems to like things very much the way they are," Hill-Wood added.