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Arsenal majority shareholder Stan Kroenke increases stake in club

Stan Kroenke increases Arsenal stake
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Majority shareholder Stan Kroenke further increases his stake in Arsenal to 67.09% after acquiring £616,000 worth of shares.

Arsenal majority shareholder Stan Kroenke has purchased a further 22 ordinary shares to increase his stake in the club to 67.09%.

The 70-year-old paid £28,000 per share through his KSE UK Inc company and now controls 41,743 shares in all.

A statement from the London Stock Exchange on Tuesday afternoon confirmed the £616,000 acquisition, increasing Kroenke's share in the Gunners by 0.04%.

"On January 23 2018, Arsenal Holdings plc (the "Company") received notification that on January 22 2018, KSE UK Inc, wholly owned by Stanley Kroenke, a director of the Company, acquired 22 ordinary shares of GBP1.00 each in the company at a price of GBP28,000 per share," the statement read.

"Taking into account such acquisition, KSE UK Inc, wholly owned by Stanley Kroenke, has a beneficial interest in, and controls voting rights over, 41,743 ordinary shares in the Company, representing 67.09% of the Company's issued ordinary shares."

Kroenke, who rejected the chance to sell shares to minority owner Alisher Usmanov last year, now has a valued stake of nearly £1.17bn.

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Arsenal's Russian shareholder Alisher Usmanov looks on before the English Premier League football match between Tottenham Hotspur and Arsenal at White Hart Lane in north London on March 3, 2013
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