Billionaire Increases Shares On Arsenal

American billionaire Stan Kroenke has yet again increased his holding share on Arsenal just short of the threshold that would require him to make a takeover bid on the club.

Kroenke has upped his holding to 28.86% – which falls just below the 29.9% mark that would signal required formal offer for the club under Stock Exchange rules.

His second purchase in two weeks has committed his spending on shares to nearly £100 million in just over a year.

His purchases have grabbed the attention of Arsenal fans, as Kroenke has yet to hint at a takeover bid.

Media reports have speculated that he will raise his stake further in the next week but will stop short of launching a full takeover, which would cost about £460m.

The Arsenal Supporters’ Trust, which speaks for about 3% of smaller shareholders, has made a statement that it would prefer for there to not be a takeover.

Kroenke already owns several clubs in the United States, including the NBA’s Denver Nuggets and the hockey team Colorado Avalanche.