LONDON-
American businessman Stan Kroenke increased his stake in Arsenal to 12.19 percent on Friday.
Kroenke bought 0.93 percent Friday and now has 7,584 shares in the club, Arsenal Holdings plc said in a statement to the Alternative Plus Market Exchange.
Kroenke bought a 9.99 percent stake in Arsenal on April 5 through Kroenke Sports Enterprises, and it was later revealed he had earlier obtained 1.27 percent through a bank.
The prospect of Kroenke becoming the fourth American to own a Premier League club has led to a boardroom rift at Arsenal.
Influential vice chairman David Dein was ousted from the board on Wednesday over his support for Kroenke’s takeover. And Dein’s departure has raised questions over the future of manager Arsene Wenger.
Dein was instrumental in signing Wenger in 1996 and the two are close friends. On Friday, Wenger refused to commit himself to the Gunners beyond next season, when his contract runs out.
Wenger is one of Arsenal’s most successful coaches and has guided the club to three Premier League titles, four FA Cups and the final of the 2006 Champions League.
Dein owns 14.5 percent of Arsenal’s shares and British media has speculated he will help Kroenke buy Arsenal, then return to run the club on a day-to-day basis.
If Kroenke obtains 30 percent of Arsenal’s shares, he will be able to launch a takeover bid under London Stock Exchange rules.
When Arsenal announced Dein’s departure, chairman Peter Hill-Wood said three key shareholders—Danny Fiszman, who has 24 percent of the shares, Nina Bracewell-Smith (15.8 percent) and Richard Carr (4.35 percent)—had no intention of selling their stake for at least a year.
The remaining stake is owned by numerous minor shareholders.
“Americans are buying up chunks of the Premiership football clubs and not because of their love for football, but because they see an opportunity to make money,” Hill-Wood told London newspaper The Daily Express on Friday. “Our objective is to keep Arsenal English—albeit with a lot of foreign players.”
Kroenke is a real estate developer who owns the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche and the Colorado Rapids of Major League Soccer. He is also a co-owner of the NFL’s St. Louis Rams.
In February, Kroenke Sports Enterprises announced it had formed a marketing alliance with Arsenal to exchange business, commercial and marketing information, and share coaching and training philosophies.
Manchester United, Liverpool and Aston Villa are all owned by Americans. Chelsea, West Ham, Fulham and Portsmouth are also owned by foreigners.
