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Kroenke already feels in control of Arsenal

Submitted by tribalfootball.com on Wed, 11/04/2009 - 10:08

Stan Kroenke feels he's now in control of Arsenal.

The Independent says Kroenke increased his holding yesterday towards the "trigger stake" of 30 per cent that would force a mandatory bid, but informed sources insist he feels he is already effectively in control of the club's destiny. His latest purchase of 427 shares, announced yesterday, cost him £8,500 per share, or £3.6m, to take his total holding to 18,394 shares, or 29.56 per cent.

Kroenke's long-term ambition is to own Arsenal, or a majority of it, but he will not go above the trigger stake until at least May 2010, and quite possibly a lot later. The trigger holding would be 18,666 shares, so Kroenke can buy a further 271 shares before having to make a mandatory bid.

Yesterday's purchase values the club at £528.8m.

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