Stan Kroenke edges closer to Arsenal takeover

BY foxsports • October 15, 2009

American businessman Stan Kroenke increased his stake in Premier League club Arsenal on Thursday, edging closer to a full takeover. The Gunners announced that Kroenke has bought 90 more shares for 765,000 pounds ($1.2 million) to increase his holding from 28.7 to 28.9 percent. The threshold that would trigger a mandatory offer for the remaining shares is 29.9 percent and the 62-year-old Kroenke has already been praised as a "model owner" by Arsenal chief executive Ivan Gazidis. Kroenke also owns Major League Soccer side the Colorado Rapids, NBA's Denver Nuggets and the NHL's Colorado Avalanche. "He will be a good owner of Arsenal," MLS commissioner Don Garber told The Associated Press earlier this month. "He's a strong silent type." If Kroenke became Arsenal owner he would be the latest American to run a Premier League club, following Tom Hicks and George Gillett Jr. at Liverpool, Randy Lerner at Aston Villa, Ellis Short at Sunderland and Malcolm Glazer at Manchester United.

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