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Arsenal chairman Hill-Wood at centre of Kroenke share buy up

Arsenal chairman Peter Hill-Wood was at the centre of yesterday's shares buy-up by Stan Kroenke.

The Daily Mail says there was bemusement yesterday in the camp of Arsenal's Russian oligarch and shareholder Alisher Usmanov at club chairman Hill-Wood's decision to sell shares to Stan Kroenke. This takes the American tycoon just 71 shares away from the 29.99 percentage threshold, above which he must bid for the whole club.

Hill-Wood sold 100 of his shares to Kroenke at £8,500 each, while the other 100 shares bought by the owner-in-waiting are also believed to have been sold by Hill-Wood family members.

The sale comes just a fortnight after chairman Hill-Wood told the Arsenal annual meeting it was important for the Gunners to remain independent of one owner.

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