Stan Kroenke has snapped up another tranche of Arsenal shares, putting the US sports franchise owner within less than 300 shares from launching a mandatory takeover for the Premier League club.

Kroenke Sports Enterprises paid £8,500 a share for a majority of the 1 per cent stake previously held by Sir Ernest Harrison, the former Racal chairman who died in February, taking Mr Kroenke’s holding to 29.6 per cent.