Kroenke on verge of Arsenal takeover

American businessman Stan Kroenke has taken a controlling stake in Arsenal and has agreed terms for the purchase of the remaining stock which values the club at £731m (€825m).

Kroenke Sports Enterprises, which has gradually built its stake in the Gunners since first buying 9.9% of shares in 2007, must now bid to buy up the remaining shares after taking their stake to approximately 62.89% after reaching undertakings with major shareholders Danny Fiszman and Lady Nina Bracewell-Smith.