US businessman Stan Kroenke builds his stake in Premier League football team Arsenal.

Arsenal’s largest shareholder, Stan Kroenke, has increased his stake in the Premier League football club by 0.3% taking his total to 28.6%

The figure is just short of the 30% threshold. which would mean he would be able to make an offer for the remaining Arsenal shares resulting in a full takeover.  

The 61-year old American businessman is listed in the Forbes 400 list as one of the richest people in the world, and became a non-executive director of Arsenal in September 2008, after gradually building his number of shares following his initial purchase in 2007. Kroenke already owns the US basketball team the Denver Nuggets, along with the Colorado Avalanche hockey team and football team, the Colorado Rapids.

Mr Kroenke paid £1.36 million for the additional 160 shares and this news will continue to fuel speculation of a takeover bid, as the billionaire boosted his holdings in the club for the third time this year.

Uzbekistan businessman Alisher Usmanov is the other majority shareholder, with more than 25% of the club bought through his company Red and White Holdings. Usmanov had a plan rejected by the Arsenal board to provide funds to help with cutting the club’s debt, as well as bringing in new players, in favour of the club remaining self-financing.

Unlike Mr Kroenke, Mr Usmanov is not on the Arsenal board.

In March 2009, when Kroenke added 5,000 Arsenal shares to his growing portfolio, he said: “After having been invited to join the Board last year I am delighted to be able to increase my shareholding in Arsenal. I will continue to work closely with my Board colleagues to maintain the stable environment in which the Club operates and to preserve the self-sustaining business model enjoyed by the Club.”