US businessman Stan Kroenke buys more Arsenal shares, moves closer to takeover of soccer club

Kroenke ups Arsenal stake, closes in on takeover

LONDON — 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.

The Denver-based businessman took his stake in Arsenal to 29.9 percent on Monday by purchasing 10 shares. If he reaches 30 percent, he has to make a takeover bid.

Kroenke also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche.