Arsenal chief executive Ivan Gazidis does not expect majority shareholder Stan Kroenke to launch a takeover bid.
Kroenke - who owns the Denver Nuggets basketball team - is nearing the 30% threshold which, under the strict financial rules of the City, would oblige him to make a formal offer for the remainder of the shares.
But Gazidis told BBC Sport: "I've had no indication from any shareholders that they are about to launch a takeover.
"The club is self-sustaining so we don't rely on any outside investment."
It has been suggested the continued investment by Kroenke - who is already an Arsenal director - is designed to fend off possible aggressive moves by Russian Alisher Usmanov, whose Red & White Holdings group hold a stake of 26.07%.
Lady Nina Bracewell-Smith could well hold the balance of power with her family's 15.9% stake - which if sold to either Kroenke or Usmanov would push them well past the takeover threshold.
When asked if he thought Kroenke wanted to buy Arsenal, Gazidis added: "That's speculative. We're very comfortable with the multi-ownership model. If that were ever to change, we'd have to address the situation at that time.
"I can't answer for the shareholders in our club, they will all have their own intentions and how they want to speak about that or express their intentions really has to be up to them.
"Many investors are interested in investing in Arsenal and I welcome the fact that people are buying shares. It's a very positive sign because it shows this is a well-run club with tremendous assets."Reuse content