Stan Kroenke has increased his stake in Arsenal to just over 20 per cent after buying 5,000 ordinary shares from fellow director Danny Fiszman.
The American tycoon has now spent £42.5million to become the second highest shareholder at the club.
Kroenke joined the Arsenal board in September after accepting an invitation to become a non-executive director.
The remainder of the Arsenal board who were subject to the ‘lockdown agreement’ gave their consent to the transaction, which was set at a price of £8,500 per share.
Fiszman is now left with some 10,025 shares, around 16.1% of the total capital of Arsenal’s parent holding company, but he has no plans to sell any more of his stake.
Kroenke is happy with the current set-up and believes the club is heading in the right direction.
“After having been invited to join the board last year I am delighted to be able to increase my shareholding in Arsenal,” he said.
“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.”
Arsenal chairman 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.”
Uzbekistan metals magnate Alisher Usmanov is Arsenal’s other overseas investor and his Red & White Holdings group increased their stake in the club to 25 per cent in February.