American businessman Stan Kroenke has joined the Arsenal board after accepting an invitation to become a non-executive director of the Premier League club.

The billionaire owner of Kroenke Sports Enterprises holds 12.4 per cent of shares in Arsenal Holdings PLC, and his prospective appointment to the board was widely interpreted as an attempt to stave off a potential takeover from Uzbek oligarch Alisher Usmanov.

Kroenke has not, however, signed up to the 'lockdown' agreement drawn up by board members last year which prevents the trading of shares without the consent of fellow directors.

Kroenke has agreed not to increase his stake beyond 29.9 per cent of Arsenal's share capital in the next year unless a takeover bid is launched by Usmanov or another party, in which case he could do so with the consent of the board.

"It is a real honour to be invited to join the board of Arsenal given their pre-eminent reputation and position in football worldwide," said Denver-based Kroenke, who through KSE has owned the St Louis Rams, Denver Nuggets and Colorado Rapids in his homeland.

"I hope my background in sports management will be an asset to Arsenal in their commercial dealings going forward."