Arsenal owner pledges to put £8bn into different sports team as Stan Kroenke plans to build 'village' for NFL franchise LA Rams

The 77-year-old has unveiled plans to build a new 52-acre 'village' for his NFL franchise, the LA Rams. It will include a state-of-the-art training complex, a headquarters for the team, and a new indoor entertainment venue in Woodland Hills, California. The Sun reports this investment will cost £8bn ($10.2bn).

He said: "As we embark on our 10th season back in Los Angeles, we remain committed to helping shape the future of this great city. Rams Village at Warner Center will continue to transform Woodland Hills by providing a vibrant gathering place for the community through publicly accessible open spaces, new entertainment venues, a retail village, and residential offerings. This is a tremendous opportunity to develop a dynamic destination and create the Rams permanent headquarters within the City of Los Angeles and we look forward to working with the City to turn this vision into a reality."

While Kroenke's popularity has risen in recent years, partly due to Arsenal's improved results on the pitch, this move is unlikely to go down too well with Gunners fans. Many will call on the American owner to invest in their training ground in London Colney or use that towards signing a new striker, for instance. It is clear he has major funds at his disposal.

Aside from Kroenke's NFL team, his Arsenal side take on Real Madrid in the Champions League quarter-finals on Wednesday.