30 Mar 2009Kroenke increases Arsenal stake

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American billionaire Stan Kroenke has upped his stake in Arsenal to just over 20 per cent, it was revealed today (March 30th).

Kroenke, who became a non-executive member of the board in September, has snapped up 5,000 shares from fellow director Danny Fiszman at a cost of £8,500 apiece.

The move increases the possibility of the tycoon taking his holding in the Gunners to 30 per cent, whereby he would be required to make an official takeover bid under stock market regulations.

Commenting on the news, Kroenke said: "After having been invited to join the board last year I am delighted to be able to increase my shareholding in Arsenal.

"I will continue to work closely with my board colleagues to maintain the stable environment in which the club operates and to preserve the self-sustaining business model enjoyed by the club."

Kroenke is now the club's second-largest shareholder behind Uzbeki steel magnate Alisher Usmanov - who has a 25 per cent stake - while Fiszman now holds 16.1 per cent.

His investment company Kroenke Sports Enterprises also owns the Denver Nuggets basketball franchise, the Colorado Avalanche ice hockey team and Major League Soccer side the Colorado Rapids.

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