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Kroenke overtakes Russia’s Usmanov as Arsenal key shareholder

  US tycoon Stan Kroenke has increased his stake in Arsenal to 28.3% to overtake Russian billionaire Alisher Usmanov for control of the football club, British media said on Saturday.

“As a result of the acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over 17,613 ordinary shares in the company, representing 28.3% of the company’s issued ordinary shares,” a statement posted on Arsenal’s official website said.

With a 25% stake in the Gunners, Uzbek-born Usmanov was previously the club’s largest shareholder.

The move has sparked speculation that the American businessman is on the verge of a acquiring a 30% stake which would lead to a forced buyout, although Kroenke, who owns a number of US sports teams, has indicated that he has no interest in a buyout. (