US businessman Stan Kroenke has confirmed he has increased his stake in Arsenal to 62.89% and will now make a mandatory offer to acquire the remaining shares in the Premier League club.
Alisher Usmanov, one of Arsenal's largest shareholders, has refused to rule out the possibility of launching a takeover for the club amid rumours he has increased his stake.
Stan Kroenke's right-hand man has defended the American tycoon's low public profile, insisting the nickname 'Silent Stan' is "very unfair".
Stan Kroenke has increased his stake in Arsenal to 28.7%, intensifying the belief that the American could launch a takeover of the club.
Arsenal shareholder Stan Kroenke is keen to stand side-by-side with the current Gunners board but has not ruled out one day owning the club outright.
Phil Holland on the takeover furore surrounding Arsenal following David Dein's exit.
Stan Kroenke is 'excited' about joining 'the Arsenal family' and had been impressed with the leadership of the Premiership club when setting up a marketing partnership earlier this year, according to a spokesman for the American's company.