Kroenke increases stake

21 April 2007 07:38
American billionaire Stan Kroenke has increased his stake in Arsenal to 12.19 per cent as speculation that the club may soon be the subject of a takeover bid intensifies. The news comes in the wake of Gunners vice-chairman David Dein's surprise exit after apparently falling out with his fellow board members over whether to welcome Kroenke's advances. Chairman Peter Hill-Wood has insisted that the club will resist any takeover bid from Kroenke. Kroenke bought ITV's 9.9 per cent stake in the club earlier this month and director Danny Fiszman's shares. Manager Arsene Wenger has confirmed that he is willing to see out his contract, which runs until the end of next season, at the Emirates Stadium but is unwilling to commit himself to a longer deal. Wenger praised Dein in the build-up to the north London derby against Tottenham, saying: "We were very close. We were in contact every day - two, three or four times at least. "We live close to each other as well so we had a lot of meetings at my house or his. The houses are only a minute away. "We had differences, David and myself, but there was an understanding. When he didn't agree with me, he told me. "When I didn't agree with him, I told him as well. There was no resentment or obstruction, just a completely honest relationship."

Source: ESA