Stan Kroenke not to sell stake in English football club Arsenal

Stan Kroenke is not looking to shed his majority stake in UK football club Arsenal and there has been no contact from any potential suitors, Arsenal communications director Mark Gonnella told Reuters, following a report that a Middle East consortium had requested a meeting with the billionaire over a potential deal.

Kroenke, who has never cashed out his sports investments, is committed to the club, in which he owns two-thirds, for the long-term, the official told the agency.

The Sunday Telegraph had said the consortium, backed by Qatari and UAE funds, planned to make a GBP1.5bn (USD2.3bn/EUR1.7bn) offer for the club.

Kroenke bought a majority interest in Arsenal two years ago. The transaction valued the target at GBP731m.