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The Gunners deny reports of a 1.5 billion euro bid for the club, and insist the American owner is committed "for the long term" and has no intention of selling his shares.

Arsenal confirmed that it has not received any formal approach regarding a takeover bid by a Middle East consortium and that American owner Stan Kroenke is committed to the Premier League club "for the long term."

With regular speculation over the ownership of the Gunners, given Alisher Usmanov's desire to take control of the club, reports have been circulating regarding a possible bid of around 1.5 billion euros from a mystery group to tempt Kroenke.

The club moved to quash rumors of any deal by confirming Kroenke has had "no contact from any potential investors," and stating that he has "no intention" of selling up.

"Stan Kroenke is committed to Arsenal for the long term and has no intention of selling his stake," said Mark Gonnella, the club's communications director. "There has been no contact from any potential investors."

Kroenke took over the Gunners in April 2011 and owns 66.83 percent of the club, while Usmanov retains 29.96 percent. Kroenke's company - Kroenke Sports Enterprise Group - is also involved in controlling Major League Soccer's Colorado Rapids, the NFL's St. Louis Rams, the NBA's Denver Nuggets and the NHL's Colorado Avalanche.

Despite the recent positive accounts released showing that the club made a half-year profit of 17.8 million euros, fans have called for manager Arsene Wenger to be given - and to spend - increased transfer funds in order for the team to compete for top honors, as the Gunners look set to go for an eighth consecutive season without a trophy.

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