Kroenke silent about intentions for Arsenal

Oct 22, 2009 - 3:53 PM By ROB HARRIS AP Sports Writer

LONDON(AP) -- American businessman Stan Kroenke kept Arsenal's shareholders in the dark Thursday about whether he plans a takeover of the Premier League club.

Kroenke has been steadily increasing his stake in Arsenal, with his latest acquisition of shares taking him to 28.9 percent - nearing the 29.9 percent threshold when he would have to launch a buyout.

Arsenal's largest shareholder stayed silent at the annual general meeting when challenged about his intentions for the club.

"I believe he is very happy as a long-term shareholder in Arsenal," chairman Peter Hill-Wood responded, citing legal problems if Kroenke had answered the question.

The Denver-based businessman also owns the Colorado Rapids, the Denver Nuggets and the Colorado Avalanche.

"Really, it's not for me to say what his intentions are," Hill-Wood said. "I don't think we are looking for a change in custodian. I think you will find the club is in pretty good hands."

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