The Arsenal directors’ share deal that saw Stan Kroenke, the US sports entrepreneur, buy up 5,000 shares from fellow board member Danny Fiszman has been given the go-ahead by the Takeover Panel.

Red & White Holdings, the Arsenal investment vehicle for Alisher Usmanov, the Russian billionaire steel magnate, asked the panel to examine whether the deal, which saw Mr Kroenke agree in March to pay £42.5m, amounted to a concert party.