The London Daily News

Sports Desk

Stan Kroenke the US sports billionaire is beleived to be mounting a final push to take control over north London football club Arsenal FC, with the Arsenal board expected to "clarify the billionaires intentions" according to the Financial Times.

The US billionaire company Kroenke Sports Enterprises already holds 29.9 per cent of Arsenal shares and is set to exceed that level to mount a formal takeover bid.  It is believed that Kroenke has agreed to buy another 16 per cent of the club from Danny Fitzman who is reported to be seriously ill.  Another shareholder at Arsenal who has agreed to sell shares in the club is Lady Nina Bracewell Smith who hold 15.9 per cent stake and is reported to have agreed a deal.

Each Arsenal shares has been valued at £8,500, with Kroenke share of the club up to 62 per cent leaving Alisher Usmanov the Russian billionaire the only "other substantial shareholder" with 27 per cent.