KSE increase Arsenal stake
It has been confirmed that Kroenke Sports Enterprises have a total stake in Arsenal of just over 11 per cent.
KSE bought a 9.99 per cent stake in Arsenal Holdings plc last week, as ITV unconditionally sold their shareholding interest in the club to American businessman Stan Kroenke's company.
One of the club's majority shareholders Danny Fiszman sold off around one per cent of his holding last month, and an announcement on the Alternative Plus Market Exchange - where Arsenal's shares are listed - has now confirmed that KSE were the buyers.
The Geneva-based Fiszman still has a 24.11 per cent stake, but if he decided to sell that to KSE, the US group would have well over the 30 per cent threshold needed to launch a formal takeover bid for Arsenal.
Fiszman has not suggested he is contemplating selling up, but Kroenke, the owner of Major League Soccer side Colorado Rapids, continues to be linked with a takeover of The Gunners.
However, KSE vice president and chief marketing officer Paul Andrews has refused to be drawn on the issue.
"We do not ever speculate in relation to our investments, or future intentions," he said.
"We do not do that across our business in the United States and we will not do that in the UK.
Andrews added: "Arsenal is a great brand and we are excited to be part of that."
Arsenal chairman Peter Hill-Wood admits the board are unsure what Kroenke may have planned.
"We are in the dark and I certainly have no idea of what his intentions are," he said.
"It was no secret that ITV were looking to sell their stake, but you would have thought that they [KSE] would have contacted us before they bought it, but they did not and that is their business. So I am none the wiser."