Nov-21st-2009
Kroenke near to fully owning Arsenal
Arsenal director Stan Kroenke has moved to the brink of the threshold where he would have to make an offer for the entire stockholding of the club.
The US billionaire has bought another 200 shares in Arsenal’s holding company, at £8,500 each, taking his shareholding to 29.9%. Mr Kroenke bought 100 of the shares from Arsenal chairman Peter Hill-Wood. He is nearing the 29.99% threshold, beyond which he would be forced to make an offer for the remaining shares. The Denver-based businessman’s latest acquisition cost him £1.7m ($2.8m). Mr Kroenke, who owns the NBA’s Denver Nuggets and Colorado Rapids MLS football team, has been gradually increasing his stake in Arsenal this year through a number of share deals.