Kroenke inches towards a takeover at Arsenal

The battle for behind the scenes control at Arsenal appears to be hotting up after Stan Kroenke, the largest shareholder in the club, has upped his stake again.

The American tycoon, who has been competing with Uzbekistani metals magnate Alisher Usmanov for influence at the Emirates stadium, has bought 80 extra shares at £8,500 each, taking his overall stake in Arsenal to 28.7 per cent. It inches him closer to the 29.9 per cent threshold that would force him to make an offer for the remaining shares.

The move comes two days after Arsenal revealed that its annual pre-tax profits had risen to £45.5m in the year to 31 May.

Kroenke is a controversial figure in North London - Arsenal chairman Peter Hill-Wood once said that they did not want "his sort" at the club. But he is now seen by many as a preferable choice of owner to Usmanov.

The American - who also owns the the US basketball team the Denver Nuggets, ice hockey outfit Colorado Avalanche and Major League Soccer side the Colorado Rapids - has upped his stake by buying shares from the Carr brothers and Danny Fiszman, a director who was formerly the club's biggest shareholder.

His move has led to speculation that Usmanov could attempt to team up with Lady Nina Bracewell-Smith, who is the club's third-biggest shareholder with 16.8 per cent, but he would be unlikely to obtain enough support from smaller shareholders to obtain control.

Arsenal is regarded as one of the best-run clubs in the Premier League partly thanks to the influence of manager Arsene Wenger, who has worked closely with Hill-Wood to ensure that it has not fallen into debt despite a move to a new stadium. ·