US billionaire businessman Stan Kroenke has further increased his stake in Arsenal Football Club (AFC) to 28.9 per cent after acquiring an additional 90 shares in the club.

The £765,000 deal means that Kroenke has moved nearer to the threshold that would automatically force the businessman to launch a takeover bid by making an offer for all remaining shares. Kroenke has repeatedly increased his stake in AFC over the course of the year, after he acquired 5,000 shares from Danny Fiszman in a deal worth £42.5m in April and a further 80 shares earlier this month.

The US businessman is also behind Kroenke Sports Enterprises, which owns the Denver Nuggets basketball franchise, the Colorado Avalanche ice hockey team and the Major League Soccer club, Colorado Rapids.