Arsenal brace themselves for takeover attempt by US tycoon Stan Kroenke

US tycoon Stan Kroenke yesterday edged closer to launching a full-scale takeover at Arsenal - and was then warned against taking sole ownership.

Billionaire Kroenke bought 427 shares at £8,500 each to take him to 29.6per cent and Arsenal’s majority shareholder is now a fraction away of the 29.9per cent threshold of making a bid for the club.

Arsenal boss Arsene Wenger was relaxed about Kroenke’s latest purchase of shares as the club’s directors had welcomed the American onto the board ahead of Uzbek tycoon Alisher Usmanov who is being frozen out.

But Tim Payton, of the Arsenal Shareholders’ Trust, said it would not welcome one owner in sole charge of the club.

The Trust statement said: “Arsenal is too important to be owned by any one person.

“The AST has repeatedly stated that we are generally opposed to a takeover and would fight any plans that require the club to incur debt to pay for a takeover as has happened at Manchester United and Liverpool. 

“Two red lines that cannot be crossed are the use of debt secured on the club’s assets to fund a takeover and an ownership structure which excludes small shareholders.

“The AST has a good relationship with both Stan Kroenke and members of his team at Kroenke Sports Enterprises (KSE).

“We have stressed to them the importance of custodianship and that the club will be stronger if it has supporters directly involved in its ownership model.”

Wenger insisted he was happy with Kroenke’s involvement in the club and added: “Frankly, I have no fear. I know what I want in life, how I want to work. As long as that is respected I am not involved in the rest.

“It is very, very important in a club that everybody does what they are paid for. I am not paid to judge whether he has to own the shares and not to own the shares. I am paid to produce a decent football team.”