American Kroenke increases stake in Arsenal again
LONDON (AP)—American businessman Stan Kroenke has moved closer to a mandatory takeover bid of Arsenal after buying another 200 shares in the Premier League soccer club.
The London club’s largest shareholder increased his stake to 29.9 percent, nearing the 30 needed to force a takeover. He previously held a 29.6 percent stake.
Kroenke’s latest acquisition cost him $2.8 million. Half the shares came from Arsenal chairman Peter Hill-Wood.
The Denver-based businessman, who already bought 427 shares this week, also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche.
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All the rush in buying football club simply due to the return are good compared to other businesses which had saturated to a point of no return in short/mid term, will continue on low return or losses (for billionaires even the banks are useless these days)
Be aware buyers study the club not all clubs are going to give the necessary cash flow and profit! its still a monopoly either way.
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