[Warchant]

Sources in London tonight have indicated that American businessman Stan Kroenke will launch a formal takeover bid for Premiership club London Arsenal after a two week stint in which the owner of the Colorado Rapids has quietly acquired 11.26% of the club in two transactions.

The BBC and the Guardian of Manchester are also speculating this evening that a bid from Kreonke is imminent.

The proposed takeover would not be a friendly one. Arsenal chairman Peter Hill-Wood was quoted today in several British papers as saying that he and the major shareholders in the club had "no intention of selling to some stranger," and were strongly opposed to the club being sold into American hands.

Kroenke is the latest North American businessman to invest in the Premier League.

Liverpool was recently purchased by George Gillett with Texas Rangers owner Tom Hicks. Aston Villa was snapped up by Cleveland Browns owner Randy Lerner and Manchester United was taken private by Malcolm Glazer, owner of the Tampa Bay Bucaneers.

The Colorado-based Kroenke Sports Enterprises purchased 9.9% of the shares from former holders television company ITV, and added another 721 shares of the football team, including 659 shares formerly owned by Arsenal's single largest shareholder, Danny Fiszman.

Arsenal, which debuted its new $780 million Emirates Stadium this season, is currently in fourth place in the Premier League but is struggling under a $520 million debt load associated with stadium costs.

Officials at the MLS Colorado Rapids were not allowed to speak to the media about the transaction. KSE vice-president Paul Andrews said, "We've always said that with regards to speculation, we don't speculate in relation to our holdings or any future moves."

 
Sources in London tonight have indicated that American businessman Stan Kroenke will launch a formal takeover bid for Premiership club London Arsenal after a two week stint in which the owner of the Colorado Rapids has quietly acquired 11.26% of the club in two transactions.

The BBC and the Guardian of Manchester are also speculating this evening that a bid from Kreonke is imminent.

The proposed takeover would not be a friendly one. Arsenal chairman Peter Hill-Wood was quoted today in several British papers as saying that he and the major shareholders in the club had "no intention of selling to some stranger," and were strongly opposed to the club being sold into American hands.

Kroenke is the latest North American businessman to invest in the Premier League.

Liverpool was recently purchased by George Gillett with Texas Rangers owner Tom Hicks. Aston Villa was snapped up by Cleveland Browns owner Randy Lerner and Manchester United was taken private by Malcolm Glazer, owner of the Tampa Bay Bucaneers.

The Colorado-based Kroenke Sports Enterprises purchased 9.9% of the shares from former holders television company ITV, and added another 721 shares of the football team, including 659 shares formerly owned by Arsenal's single largest shareholder, Danny Fiszman.

Arsenal, which debuted its new $780 million Emirates Stadium this season, is currently in fourth place in the Premier League but is struggling under a $520 million debt load associated with stadium costs.

Officials at the MLS Colorado Rapids were not allowed to speak to the media about the transaction. KSE vice-president Paul Andrews said, "We've always said that with regards to speculation, we don't speculate in relation to our holdings or any future moves."

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Foreign Ownership in EPL


Kroenke Sports Enterprises, which owns Denver's Pepsi Center, as well as the NHL Avalanche and NBA Nuggets, recently signed a marketing agreement with the London club. At the time, sources close to the Rapids indicated the MLS club would also change its name to "Colorado Arsenal," but that move was apparently put on hold after feedback from the London side.

Adding to the intrigue today in London, Arsenal vice-chairman David Dein, suddenly resigned from his post at the club. Dein, who owns some 14.5% of the club, is also the head of the powerful G-14 lobbying bloc of European soccer clubs, and was reportedly in favor of selling to Kroenke.

Asked about Dein's departure, Andrews said that it would be "inappropriate to comment" at this time.