Kroenke increases Arsenal stake
Updated on 10 July 2009
American Stan Kroenke has increased his stake in Arsenal to 28.58 per cent.
The club issued a statement saying Kroenke, who joined the board last year and became the largest shareholder in May, paid £1.5 million for another 160 shares at £8,500 each.
Kroenke has overtaken Russian billionaire Alisher Usmanov, who was the largest shareholder with about 25 per cent.
The American businessman's shareholding is now close to the 30 per cent threshold that would force him to make an automatic offer for the remaining shares, although he has previously said he is not interested in pursuing a full buyout.
Arsenal have been at the centre of takeover speculation ever since Kroenke and Usmanov started building stakes.
Earlier this week Usmanov offered to invest £60 million for the club to spend in the transfer market, but his plan was rejected by the club's board.
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