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US sports tycoon Stan Kroenke has increased his stake as the largest shareholder on the board of Arsenal with the purchase of new shares.
Picking up two new ordinary shares at a price of £6,750 each, Kroenke increased his total interest in the Premier League club to 17,615 shares, a 28.3 per cent stake.
In a statement on the Plus market, a London-based stock exchange for small transactions, Arsenal Holdings confirmed that it had received notification from the Kroenke Enterprise Group about the share purchase.
The news comes after the entrepreneur, who has interests in Denver Nuggets, St Louis Rams and Colorado Avalanche US sports franchises, purchased 5,000 shares from Danny Fizman for £42.5 million.
Under UK financial regulations, Kroenke would be obliged to launch a takeover offer if he acquired a 30 per cent stake in the club.
This latest purchase suggests that such a move could be something that he is willing to do.
Responding to Kroenke's recent financial activities, the Arsenal Supporters Trust (AST) welcomed his involvement in the club, but added: "Our position is that stability and plurality in ownership is to the benefit of Arsenal."
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
