Arsene Wenger reacts to Kroenke increasing his Arsenal stake

Stan Kroenke has purchased another 427 shares in Arsenal's parent holding company as the American edges closer towards the takeover threshold. The Denver-based sports magnate is now the largest individual shareholder in the Gunners, with a stake of some 29.6 per cent after acquiring more stock from the estate of the British industrialist Ernest Harrison at a cost of around £3.6 million. Should Kroenke, or indeed anyone else such as second-largest shareholder Alisher Usmanov, reach a figure of 29.9 per cent, they would, under the City's financial regulations, be obliged to launch a formal takeover bid. The Arsenal Supporters Trust believe the latest moves do not mean a takeover from Kroenke is imminent. However, the fans group, whose representatives have travelled to the United States to meet Kroenke, stressed that were that position to change, "urgent discussions" would be necessary. A statement from the AST read: "While the AST welcome Stan Kroenke's involvement, we agree with the sentiment of Peter Hill-Wood's statement at the most recent AGM that there is no need for any shareholder to launch a takeover of the club."

» More on this story... «

ITN | November 4, 2009

Tags:. .alisher. .industrialist. .peter. .threshold. .ernest