Kroenke on Gunners cusp

05 November 2009 10:10
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. 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."

Source: ESA