Kroenke closer to Gunners bid

American businessman Stan Kroenke has edged closer to a takeover of Arsenal.

Kroenke has increased his stake in the Premier League club three times already this year and did so again on Thursday.

The Gunners announced that Kroenke has spent £765,000 ($1.2million) buying 90 shares to increase his holding from 28.7 to 28.9 per cent.

That is a fraction short of the 30 per cent threshold that would trigger a mandatory offer for the remaining shares, although Kroenke has previously said he is not interested in pursuing a full buy-out.

Kroenke has made his personal fortune from real estate, which is estimated to be around $3.5billion (£2.2billion).

He first acquired shares in the London giants when buying a 9.9% stake in April 2007 and has gradually increased his holding, joining the club’s board of directors in September 2008.

The 62-year-old has been praised as a “model owner” by Arsenal chief executive Ivan Gazidis and owns American MLS franchise Colorado Rapids, with whom Arsenal have a technical link-up.

He is a keen sports fan and also owns basketball team Denver Nuggets and ice hockey team Colorado Avalanche, along with a 40% share in American football’s St Louis Rams.