Kroenke edges closer to takeover threshold

Stan Kroenke has purchased another 10 shares in Arsenal’s parent holding company, at a cost of some £85,000 (€93,000), to edge closer towards the takeover threshold.

Stan Kroenke has purchased another 10 shares in Arsenal’s parent holding company, at a cost of some £85,000 (€93,000), to edge closer towards the takeover threshold.

The Denver-based sports magnate is now the largest individual shareholder in the Gunners, with a stake of some 28.9%, which includes a £765,000 (€843,000) purchase earlier this month.

Should Kroenke, or indeed anyone else such as second-largest shareholder Alisher Usmanov, reach a figure of 29.9%, they would, under the City’s financial regulations, be obliged to launch a formal takeover bid.

However, when the matter of his intentions for the Barclays Premier League club was raised during last week’s Annual General Meeting at Emirates Stadium, the American – nicknamed ’Silent Stan’ – chose not to take the opportunity to address the gathered shareholders, with chairman Peter Hill-Wood intervening.

Hill-Wood insisted major changes behind the scenes were not on the agenda.

The Arsenal chairman stressed: “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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