Colorado businessman Stan Kroenke has joined the board of the London-based Arsenal soccer organization in a move that could block a potential takeover.
The Denver-based investor became a non-executive director Friday, with a 12.4 percent share.
Through Kroenke Sports Enterprises, Kroenke controls the Denver Nuggets, the Colorado Avalanche and the Colorado Rapids. He also owns the Colorado Crush, the Colorado Mammoth, and the Pepsi Center -- site of the Democratic National Convention last month.
Kroenke has agreed in the next year not to increase his stake in Arsenal beyond 29.9 percent, unless Russian billionaire Alisher Usmanov or another party launches a takeover bid.
Then he would be able to do so with the consent of the board.
Kroenke says he hopes his background in sports management will be an asset to Arsenal in their commercial dealings.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.