American billionaire Stan Kroenke is set to be given the opportunity to takeover Arsenal, it has been revealed.

The Independent says Kroenke is in advanced talks with Arsenal's hierarchy about a deal to put him in pole position to take control. The American billionaire, who owns 12 per cent of the shares, will take a place on the club's board within weeks. Crucially, he will also be given first refusal on a majority of the club's shares for the next four years.

Kroenke will not own a controlling stake in Arsenal just yet. The "friends and family" group of core directors, headed by Danny Fiszman (24.1 per cent owner) and Lady Nina Bracewell-Smith (15.9 per cent) have shown no appetite to sell, immediately at least.

But the deal will put Kroenke in the box seat to buy control later.

"Stan's seat on the board is weeks away, it's just a case of dotting the 'i's and crossing the 't's," an insider said.