Football Talk - Kroenke moves closer to Arsenal takeover - 05/11/09
Stan Kroenke has moved closer to launching a takeover of Arsenal after increasing his stake in the club to 29.9 per cent. The American business tycoon is now just short of the 29.99 per cent threshold beyond which he would be forced to make an offer for the remaining shares.
Kroenke acquired another 200 shares in the club's parent holding company to move to the latest figure, with 100 of the shares being bought from Gunners chairman Peter Hill-Wood. It seems inevitable Mr Kroenke will now launch a formal takeover of Arsenal.
According to the Arsenal Supporters' Trust, roughly 13% of the club's shares are held by small shareholders. Earlier this week the fans' group said it believed in "plurality of ownership" at the club.
