Kroenke increases Arsenal stake

Wednesday 30 September 2009 14:01 BST

Stan Kroenke, the American sports tycoon, has increased his stake in Arsenal (GETTY IMAGES)

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Stan Kroenke has increased his stake in Arsenal to 28.7 per cent.

The American billionaire businessman has bought 80 more shares in the company, edging him closer to the 29.9% mark that would trigger a formal takeover offer for the remainder of the club.

After more than doubling his stake over the last year, the owner of the Denver Nuggets basketball team bought his latest 80 shares at £8,500 each.

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