HoopsHype England rumors

June 25, 2013 Updates
April 11, 2011 Updates

Kroenke raised his stake in Arsenal from 29.9 percent to 62.89 percent by agreeing to buy shares from fellow directors including Danny Fiszman and Nina Bracewell-Smith. The deal values the club at 731 million pounds ($1.2 billion). By going over the 30 percent threshold, the 63-year-old Kroenke is obliged to make a mandatory cash offer for the remaining shares. "We are excited about the opportunity to increase our involvement with and commitment to Arsenal," Kroenke said in a statement to London's Plus Market. "Arsenal is a fantastic club with a special history and tradition and a wonderful manager in Arsene Wenger. We intend to build on this rich heritage and take the club to new success." USA Today

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