American billionaire Stan Kroenke hopes to finalise terms of a formal relationship with Arsenal and his MLS club Colorado Rapids next week.

The Guardian says Kroenke will use his visit to London to discuss the marketing tie-up Arsenal has not yet finalised with the Rapids.

The scheme was announced last February after a visit to Denver involving Arsenal's managing director, Keith Edelman, and the head of communications, Amanda Docherty. It is hoped that next week's negotiations can lead to the finalising of the deal, and last week's Premier League proposals for an "international round" may provide new impetus.