‘Business as usual’ as Kroenke ups stake

CHIEF EXECUTIVE Ivan Gazidis maintains it is “business as usual” at Arsenal after American tycoon Stan Kroenke paid out some €45.85m to increase his stake in the Premier League club.

Kroenke, 61, accepted the offer to become a non-executive director in September last year as ties with his Kroenke Sports Enterprises group were strengthened, after the Gunners had at first been less than receptive to the billionaire American — with chairman Peter Hill-Wood claiming “we do not need his sort”.

The remainder of the Arsenal board who were subject to their internal “lockdown agreement” gave consent to the transaction of 5,000 ordinary shares between Danny Fiszman and Kroenke, which was set at a price of €9,000 each and will be paid to Swiss-resident Fiszman rather than the club itself.