Sky News claims US tycoon Stan Kroenke is in advanced talks to take control of Arsenal Football Club.
Kroenke already owns close to 30 per cent of the Premier League club and is in advanced talks to acquire the 16 per cent stakes held by both Danny Fiszman and Lady Nina Bracewell-Smith.
An announcement could be made to the stock market as early as tomorrow morning, although it could be delayed.
By taking his shareholding in Arsenal to about 62 per cent of the club, the US tycoon triggers a mandatory offer for the rest of the shares.
Uzbek billionaire Alisher Usmanov also has over 20 per cent stake in the club – but now Kroenke has made a move to secure full control.
Kroenke first took a stake in Arsenal in 2007 when he purchased the 9.9 per cent which was owned by Granada.
Kroenke has major interests in sporting teams throughout America as his company also owns the Denver Nuggets of the NBA, Colorado Rapids of Major League Soccer and the NFL’s St. Louis Rams.