Kroenke close to Arsenal takeover bid

STAN KROENKE is within 17 shares of the threshold which would force him into making a takeover bid for the London club.

The American business tycoon has bought up another 25 shares inside the last week and, although his stake in Arsenal remains at 29.9%, he is edging ever closer to the 30% holding that requires him to make a formal takeover bid and offer to buy the entire stockholding.

The latest share acquisition is reported to have cost Kroenke around £212,500 (€238,712).