Arsenal majority shareholder Stan Kroenke has stated that he is not interested in selling his shares in the club.

Uzbek-born businessman Alisher Usmanov, who owns 30% of the Gunners, recently had a £1.3bn takeover bid turned down by the American.

Now Kroenke, who also owns professional sports teams in the United States, has released a statement to the Stock Exchange explaining his plans.

It read: "KSE UK, Inc (Kroenke's company) notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms that its shares are not, and never have been, for sale."

"KSE is a committed, long-term investor in Arsenal and will remain so."

Kroenke, and current manager Arsene Wenger, have been the subject of protests from Arsenal fans after they failed to qualify for the Champions League for the first time in 20 years.