Stan Kroenke has increased his stake in Arsenal to just over 20% at a cost of some £42.5million after buying 5,000 ordinary shares from fellow director Danny Fiszman.

Fiszman is now left with some 10,025 shares, around 16.1% of the total capital of Arsenal's parent holding company.

The diamond dealer, however, maintains he has no intentions of offloading any more of his stake in the Gunners.

"I am pleased that Stan Kroenke has made a further substantial commitment to the club by acquiring approximately a third of my holding," Fiszman said.

"Stan's long-term commitment to sport in general and football in particular has been well documented.

"I am therefore delighted that he has shown this desire to deepen his ties with Arsenal.

"I will of course continue to work for Arsenal with the best interests of the club at heart and have no intention of selling any more of my shareholding."

Kroenke firmly believes the club is heading in the right direction under the current set-up.

"After having been invited to join the board last year I am delighted to be able to increase my shareholding in Arsenal," he said.

"I will continue to work closely with my board colleagues to maintain the stable environment in which the club operates and to preserve the self-sustaining business model enjoyed by the club."

Arsenal chairman Peter Hill-Wood added: "Stan Kroenke has proved to be a valuable member of the board and I am pleased that he has demonstrated further commitment to the club by adding to his shareholding.

"Danny Fiszman remains a driving influence on the board and is fully committed to the club's long term future."