Stan Kroenke takes controlling stake in Arsenal with 62.89% of shares

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Stan Kroenke

Stan Kroenke, left, with the Arsenal chairman, Peter Hill-Wood. Photograph: Nick Potts/PA

The American businessman Stan Kroenke has taken a controlling stake in Arsenal and has agreed terms for the purchase of the remaining stock which values the club at £731m.

Kroenke Sports Enterprises, which has gradually built its stake in the club since first buying 9.9% of shares in 2007, must now bid to buy up the remaining shares after taking its stake to approximately 62.89% after reaching undertakings with the major shareholders Danny Fiszman and Lady Nina Bracewell-Smith. Terms have also been agreed for KSE to buy up the remaining share capital at a cost of £11,750 a share.  more >>