Stan Kroenke owns three Colorado-based pro sports teams. (Garrett W. Ellwood/Getty Images)American businessman Stan Kroenke has bought his second batch of shares this week in English soccer club Arsenal, edging closer to the threshold that forces him to make a takeover bid.
The Premier League club said Thursday that Kroenke acquired 20 more shares at a cost of $281,280 US.
The Denver-based businessman took his stake in Arsenal to 29.9 per cent on Monday by purchasing 10 shares.
If he reaches 30 per cent, he has to make a takeover bid.
Kroenke, who also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche, needs to buy 42 more shares to take his holding to 30 per cent.
Alisher Usmanov is the club's second-largest shareholder with a 25 per cent stake, but the Russian businessman has not been invited to join the board of directors.
