Stan Kroenke: 'My Arsenal shares are not for sale'

Arsenal's majority shareholder Stan Kroenke has released a statement to reiterate that his shares in the Premier League outfit are not for sale.

On Friday, it was reported that minority shareholder and Russian oligarch Alisher Usmanov had expressed an interest in buying out Kroenke, who holds a 67% stake in the Gunners.

However, despite Usmanov said to be willing to pay £1bn, Kroenke has said that his shares "are, and never have been, for sale".

A statement read: "KSE UK, Inc notes the recent media speculation regarding its shareholding in Arsenal Holdings PLC and confirms that its shares are, and never have been, for sale.

"KSE is a committed, long term investor in Arsenal and will remain so."

On Sunday, Arsenal finished the Premier League season in fifth place, meaning that they miss out on Champions League football for the first time in 20 years.