Stan Kroenke reaches Arsenal takeover threshold

05 November 2009 | Posted in Sports Properties, Soccer | By Adam Fraser

Stan Kroenke, the majority shareholder at Arsenal, has bought another 200 shares to take his stake in the club to 29.9 per cent - meaning any further investment above the absolute minimum would legally oblige him to make an offer for the Premier League club.

Another 0.1 per cent would take Kroenke past the 29.99 per cent threshold that would oblige him to make the offer. Intriguingly, half of the 200 shares Kroenke has acquired came from Arsenal chairman Peter Hill-Wood. Hill-Wood has issued contradictory messages in recent weeks, telling one British newspaper, "It does look like he is edging towards a takeover, which I would welcome," but saying at the club's 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."

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Kroenke himself refused the chance to comment at the AGM when asked about his intentions. The American billionaire, who owns the Colorado Rapids, Denver Nuggets and Colorado Avalanche, spent some US$2.8 million on the 200 shares.