Kroenke Edges Closer To Arsenal Takeover With Purchase Of Another Ten Shares

"Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 18,604 ordinary shares in the Company, representing 29.9% of the Company's issued ordinary shares."

That means, according to the Press Association, that Kroenke is now closer to the 29.99% that would mean, under strict City rules, that he would be obliged to launch a formal bid for the remainder of the shares in the club.

Those shares would be sold at the highest price paid for stock during the past 12 months, which currently stands at £10,500 pre share paid in May.

Russian businessman Alisher Usmanov is seen as potentially Kroenke's main rival for ownership of the club. He currently owns 25% of shares in the Gunners.