American businessman Stan Kroenke, Arsenal’s largest shareholder, has increased his stake in the Premier League club.

The Stock Exchange has confirmed that Kroenke has acquired a further 160 shares in Arsenal taking his total holding to 28.58 per cent. The American will be obliged, under Stock Exchange rules, to make formal takeover bid should he secure a 30 per cent stake in the club.

“On 9th July 2009, Arsenal Holdings plc (the 'Company') received notification that on 9th July 2009 Stan Kroenke, a director of the Company, acquired 160 ordinary shares of £1.00 each in the Company at a price of £8,500 per share,” a statement read.

“Taking into account such acquisition, Stan Kroenke has a beneficial interest in, and controls voting rights over, 17,787 ordinary shares in the Company, representing 28.58 per cent of the Company's issued ordinary shares.”

Kroenke first invested in Arsenal when purchasing a 9.99 per cent stake in April 2007 but his interest was initially unwelcome at Emirates Stadium, with chairman Peter-Hill Wood memorably claiming: “We don’t want his sort.”

Relations soon thawed though and Kroenke joined Arsenal’s board of directors in September 2008. That same board earlier this week rejected a rights issue proposed by Alisher Usmanov, the club’s second-largest shareholder with around 25 per cent.