Arsenal FC

• Nickname:
• Founded:1886
• Manager:Arsene Wenger

• Ground:
• Capacity:NaN

Kroenke ups Gunners stake

27 Oct 2009 - 15:15:27

Click To Enlarge

Stan Kroenke has become the largest individual shareholder in Arsenal after buying another ten shares in the club's parent holding company.

The shares, which cost the Denver-based sports magnate £85,000, edge him closer towards the takeover threshold.

Kroenke now holds a 28.9 per cent stake in the Gunners after spending £765,000 on some more shares earlier this month.

Should Kroenke's share rise to 29.9 per cent, under the City's financial regulations, he would be obliged to launch a formal takeover bid.

The latest share dealings were confirmed to the Plus market in a statement which read: "On 26th October 2009, Arsenal Holdings plc (the "Company") received notification that on 26th October 2009 Stan Kroenke, a director of the company, acquired ten ordinary shares of £1.00 each in the company at a price of £8,500 per share.

"Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,967 ordinary shares in the company, representing 28.9 per cent of the company's issued ordinary shares."