Kroenke buys more Gunners shares

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Football News

American billionaire Stan Kroenke has increased his share in Arsenal to 28.9%.

The businessman, who joined the club's board in September last year, has purchased 90 additional shares at £8,500 each to add a further 0.2% to his existing holding.

A club statement read: "Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,957 ordinary shares in the Company - representing 28.9% of the company's issued ordinary shares."

The Denver Nuggets basketball team owner is the Gunners' largest shareholder, with Uzbek businessman Alisher Usmanov also holding a share of more than 25%.

If Kroenke reaches a 29.9% threshold it will trigger a formal takeover bid.

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