Stan Kroenke plots full Arsenal takeover as he acquires more shares

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

Stan Kroenke, the American businessman who has more than doubled his stake in English soccer club Arsenal over the last 12 months, has secured another 90 shares in the Premier League team, bringing him to within one per cent of the level that would force him to make an all-out takeover offer for the club.

Kroenke's latest acquisition, for which he has paid some UK£8,500 per share, comes just days after it was revealed that he owes other directors at the club millions of pounds for previous acquisitions.

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The US$1.25 million investment takes Kroenke's share in the club to 28.9 per cent. Should he secure another one per cent of shares, he would be legally obliged to make an offer for the remainder of the club. While sources close to Arsenal insist that is not on his agenda, Don Garber, the Major League Soccer commissioner, admitted last week 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.