Arsenal majority shareholder Stan Kroenke insists his stake is not for sale.

Russian businessman Alisher Usmanov, who currently owns 30 per cent of the club, tabled a formal £1billion bid to buy Arsenal a week ago.

KSE UK, which is the holding company for the American's interest in the Gunners, issued a statement to the London Stock Exchange on Monday morning:

"KSE UK, Inc 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."