American Billionaire and Major League Soccer - Colorado Rapids (amongst many other sports teams) owner Stan Kroenke has once again upped his stake in Premiership side Arsenal to 28.7% and is now just 1.2% short of having to make the obligatory takeover bid.

Via Guardian 

The American billionaire businessman has bought 80 more shares in the company, edging him closer to the 29.9% mark that would trigger a formal takeover offer for the remainder of the club.

After more than doubling his stake over the last year, the owner of the Denver Nuggets basketball team bought his latest 80 shares at £8,500 each.