Sports/AP
American Stan Kroenke moves closer to mandatory takeover of soccer club Arsenal
Associated Press
11/05/09 10:50 PM EST
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| A photograph showing the Emirates stadium, home of Arsenal football club, London, Tuesday Nov. 3, 2009. American businessman Stan Kroenke has moved within a fraction of launching a mandatory takeover bid for Premier League club Arsenal. Kroenke, the London club's largest shareholder, increased his stake to 29.6 percent, just short of the 29.9 percent needed to force a takeover. He previously held a 28.9 percent stake. (AP Photo/Tom Hevezi) (AP) |
LONDON — American businessman Stan Kroenke has moved closer to a mandatory takeover bid of Arsenal after buying another 200 shares in the Premier League soccer club.
The London club's largest shareholder increased his stake to 29.9 percent, nearing the 30 needed to force a takeover. He previously held a 29.6 percent stake.
Kroenke's latest acquisition cost him $2.8 million. Half the shares came from Arsenal chairman Peter Hill-Wood.
The Denver-based businessman, who already bought 427 shares this week, also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche.
