27 Oct 2009Kroenke sparks takeover talk with share purchase at Arsenal

Football Clubs News | Football Finance News

Stan Kroenke has again fuelled rumours of an imminent takeover bid by increasing his holding in Arsenal.

The US billionaire, who is already the club's largest shareholder, bought ten shares at £8,500 each yesterday (October 26th) to bring his total stake in the English Premier League outfit to 28.9 per cent.

Mr Kroenke has been steadily accumulating more shares in Arsenal this year and will be formally obliged to launch an official takeover if he reaches the 29.9 per cent threshold.

However, Harry Philp, managing director at sports financers and advisers Hermes Sports Partners, told the BBC that the Denver-based businessman's intentions are not yet clear.

"It looks like he is just picking up shares as they become available. Because the shares are so tightly held by a group of four major shareholders they are not widely available for purchase," Mr Philp explained.

Mr Kroenke is nicknamed 'Silent Stan' and offered no clues of his long-term plans for Arsenal at the club's annual general meeting last week, the Guardian reported.

Written by Paul Roberts

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