Soccer:American businessman Stan Kroenke has moved a step closer to launching a takeover bid for Arsenal having increased his stake in the club.

Kroenke is now within 17 shares of the threshold that forces him to make a takeover bid having invested another lump sum into the north London outfit.

The club have confirmed that the Denver-based businessman acquired 25 more shares last week, costing £212,500 (€239,000).

That takes his stake to 29.9 per cent - if he reaches 30 per cent he has to make an offer for the remaining shares.

Russian investor Alisher Usmanov is the club's second-largest shareholder with 26 per cent, but he has not been invited on to the board of directors.