Kroenke moves another step closer to Arsenal takeover

27 October 2009 | Posted in Sports Properties, Soccer | By Adam Fraser

Stan Kroenke, the American billionaire who controls a majority stake in Arsenal, has moved a step closer to the 29.9 per cent threshold that would oblige him to make an offer for the remaining shares in the club.

Kroenke, who has repeatedly upped his stake this year, has secured another 10 shares in the club at £8,500 each. The American did not answer when asked at the club's AGM last week whether he intends to complete a full takeover of the club, but its coach Arsene Wenger and chairman Peter Hill-Wood have both admitted they think it is looking ever more likely that a takeover will be completed at some stage in the future.

• Arsenal boss Wenger expects Kroenke to complete takeover
• Arsenal set sights on breaking the USA as Kroenke ups investment

"It does look like he is edging towards a takeover, which I would welcome," Hill-Wood told the Daily Star newspaper earlier this month. "I have not asked him if that is what he plans to do, but I am very relaxed about it."

However, Hill-Wood said at the AGM: "I don't think we are looking for a change in custodian. I think you will find the club is in pretty good hands. I believe he [Stan] is happy to be a long-term shareholder in our club. Really its not for me to say what his intentions are."