LONDON—American businessman Stan Kroenke kept Arsenal’s shareholders in the dark Thursday about whether he plans a takeover of the Premier League club.
Kroenke has been steadily increasing his stake in Arsenal, with his latest acquisition of shares taking him to 28.9 percent—nearing the 29.9 percent threshold when he would have to launch a buyout.
Arsenal’s largest shareholder stayed silent at the annual general meeting when challenged about his intentions for the club.
“I believe he is very happy as a long-term shareholder in Arsenal,” chairman Peter Hill-Wood responded, citing legal problems if Kroenke had answered the question.
The Denver-based businessman also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche.
“Really, it’s not for me to say what his intentions are,” Hill-Wood said. “I don’t think we are looking for a change in custodian. I think you will find the club is in pretty good hands.”
