American billionaire businessman, Stan Kroenke, has increased his stake in Arsenal Football Club (AFC) to 20.5 per cent after acquiring 5,000 shares from director Daniel Fiszman for £42.5m.

Kroenke first became involved with the London-based club when he purchased ITV's 9.9 per cent stake in April 2007, and was appointed to the board as a non-executive director in September last year. In addition to his stake in AFC, Kroenke's US firm, Kroenke Sports Enterprises (KSE), currently owns the Denver Nuggest basketball franchise, the Colorado Avalanche ice hockey team, and Major League Soccer club, Colorado Rapids.

He said: "After having been invited to join the board last year, I am deslighted to be able to increase my shareholding in Arsenal. I will continue to work closely with my board colleagues to maintain the stable environment in which the club operates and to preserve the self-sustaining business model enjoyed by the club." AFC chair, Peter Hill-Wood, added: "Stan Kroenke has proved to be a valuable member of the board and I am pleased that he has demonstrated further commitment to the club by adding to his shareholding. Danny Fiszman remains a driving influence on the board and is fully committed to the club's long-term future."