Stan Kroenke Reportedly Increases Arsenal Stake: Latest Details and Reaction
Arsenal majority shareholder Stan Kroenke has increased his stake in the club to more than 67 percent, despite persistent protests against the American business owner and his handling of the Gunners.
According to the Press Association (for the Daily Mail), the Kroenke Sports Enterprise bought 23 more shares for £368,000, bringing their total amount of shares to 67.05 percent.
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The Gunners endured another disappointing season in 2015-16, once again falling short of their goal of winning the Premier League title. Unlike most of their rivals, the club barely invested in new players during the summer of 2015, as yet another transfer window passed without significant spending.
The protests against Kroenke kicked up a notch in February when it was revealed he spent roughly £500 million on a new ranch, per the Independent's Simon Rice. Fans, including TV personality Piers Morgan, were furious:
Per TalkSport, Kroenke has been Arsenal's majority shareholder since 2011. He has gradually increased his grip on the club since and currently owns more than twice as many shares as Alisher Usmanov, who has been highly critical of the team's transfer policy, per MailOnline's Rohan Banerjee.
Kroenke also owns a number of American sports franchises, including the NFL's Los Angeles Rams, the NBA's Denver Nuggets and MLS' Colorado Rapids.
Arsenal have already signed their first player of the summer transfer window, as former Borussia Monchengladbach star Granit Xhaka joined the club earlier this week, per the team's official Twitter account.
