Kroenke ups Gunners stake

Stan Kroenke has become the largest individual shareholder in Arsenal after buying another ten shares in the club's parent holding company.

The shares, which cost the Denver-based sports magnate £85,000, edge him closer towards the takeover threshold.

Kroenke now holds a 28.9 per cent stake in the Gunners after spending £765,000 on some more shares earlier this month.

Should Kroenke's share rise to 29.9 per cent, under the City's financial regulations, he would be obliged to launch a formal takeover bid.

The latest share dealings were confirmed to the Plus market in a statement which read: "On 26th October 2009, Arsenal Holdings plc (the "Compan") received notification that on 26th October 2009 Stan Kroenke, a director of the company, acquired ten ordinary shares of £1.00 each in the company at a price of £8,500 per share.

"Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,967 ordinary shares in the company, representing 28.9 per cent of the company's issued ordinary shares."

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