Kroenke edges closer to Arsenal takeover bid

Published: 05 Nov 2009 - 13:04:02

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Kroenke edges closer to Arsenal takeover bid

Stan Kroenke has acquired another 200 shares as he edges closer to launching a formal takeover of Arsenal.

Kroenke, who also has an interest in NBA team the Denver Nuggets and the Colorado Rapids Major League Soccer side, has purchased another 200 shares - half of which came from current chairman Peter Hill-Wood.

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The American businessman now holds a 29.9 per cent stake in the Gunners and is on the cusp of the 29.99 per cent mark which would compel him to make a formal offer for the remaining shares.

Kroenke has twice upped his holding during the current season and his increased interest has been welcomed by a previously hostile Hill-Wood.

"It does look like he is edging towards a takeover, which I would welcome," said Hill-Wood last month.

"I have not asked him if that is what he plans to do, but I am very relaxed about it.

"If it was to happen, I don't think you can expect any big changes because he seems to like things very much the way they are."