Stan Kroenke has moved to the brink of launching an obligatory takeover of Arsenal after increasing his stake in the club to 29.9 per cent.

The American today purchased another 200 shares in Arsenal's parent holding company, 100 of which were sold by Peter Hill-Wood, the Arsenal chairman, just short of the 29.99 per cent threshold beyond which he would be forced to make an offer for the remaining shares under the City Takeover Code.

It is still understood that Kroenke is merely strengthening his position rather than preparing for a full takeover. Even for the American billionaire, the prospective total cost of about £460million would be prohibitive. On Monday, Kroenke purchased 427 shares from the estate of Ernest Harrison, the British industrialist, at a cost of £3.6m. It drew a cool response from the respected Arsenal Supporters' Trust (AST).

"While we welcome Kroenke's involvement, we agree with the sentiment of Peter Hill-Wood at the most recent AGM that there is no need for any shareholder to launch a takeover of the club," the trust said. "The AST believes in plurality of ownership. If a takeover is launched by any party, we would seek urgent discussions with those involved."

Kroenke, who owns the Denver Nuggets basketball team and Colorado Rapids football team, attended the club's annual meeting two weeks ago but lived up to his nickname of "Silent Stan" by declining the opportunity to introduce himself by making a speech, though he did later talk with some fans.

His silence may not have been a surprise after Hill-Wood had been slapped on the wrist by the Takeover Panel the previous week, when he said that he would "welcome" a takeover from Kroenke. Any public statements against future bid intentions must be unambiguous, otherwise the individual or group would, under the Takeover Panel's rule 2.8, be prevented from making a formal move for six months.

Kroenke has been gradually increasing his stake in Arsenal this year through a number of different share purchases. Other major shareholders are Usmanov, the Uzbeki tycoon who holds around a 25 per cent stake, Danny Fiszman, and Lady Bracewell-Smith, with the rest held by small shareholders.

Arsene Wenger, the Arsenal manager, remained impassive about Kroenke's latest move. "A takeover is not inevitable," the Frenchman said. "He has 29.9 per cent but I don’t know what will happen. He is not in a position where he has to make a bid so the situation does not change at the club.

"I have spoken with Stan and all the shareholders and I don’t know why I shouldn’t. I have never asked him about his plans. I care and worry about my plans. I see that the board are a floor above me and I look downwards towards the team. I take care of what is under my responsibility and that means the team, the results and the next game.

"I don’t own any shares in Arsenal. I have thought about it but I felt always that I try to do the job with a good work ethic and not to be accused of any decision being taken for any personal interest. I decided not to be involved in it at all. So I cannot be accused with whatever decision I make of looking after my own interest."

Who owns what at Arsenal
Stan Kroenke (29.9 per cent): The American is the largest stakeholder and has been perceived as the club’s saviour, without saying anything about his intentions. He owes nearly £50 million to Danny Fiszman and Richard Carr after share agreements.

Alisher Usmanov (25): Began buying shares rapidly at inflated prices, but missed his opportunity to launch a takeover after gaining fan support when the team were faltering.

Danny Fiszman (16.11): Kicked off the takeover speculation when he sold 659 shares at £5,975 each in 2007, unknowingly to Kroenke. He told fellow board members that he wanted to round down his holding to 15,000 shares. Moved to Switzerland.

Lady Nina Bracewell-Smith (15.9): Dismissed from the board in December, she has regained her directors’ box seats. Her stake could prove important if she sides with Usmanov.

Arsène Wenger (no holding): Perhaps the most significant player. As long as his team are performing, there will be little pressure from fans for a takeover from a rich benefactor. That could change if the side finish outside the top four or without a trophy.

Hill-Wood family (1.04).

Others (12.35)

Words by Gary Jacob