Kroenke pays debt to Fiszman for Arsenal purchase

The Times reports that majority shareholder of English Arsenal Football Club, Stan Kroenke, has paid GBP 10.6 million to fellow club director Danny Fiszman. He has now paid 50 per cent of the GBP 42.5 million for the 8 per cent stake he purchased in July.

Over the past year, Kroenke has spent GBP 100 million on share purchases, yet his motives remain unclear. He has edged ever closer to the takeover mark, with his last purchase bringing him within 62 shares of a takeover. He now holds a 29.9 per cent stake in Arsenal.

Some believe that the American billionaire will stop just short of a mandatory takeover bid, which would be worth GBP 460 million at the current share price.

Kroenke still owes approximately 20 million to Richard Carr for the share agreement between the two.