Kroenke looms over Arsenal

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The billionaire businessman who currently owns just over 12% of the club's parent company is thought to be keen increase his financial involvement.

There has been no official comment from the reclusive entrepreneur but the reports come after an apparent softening of attitude towards him from the Arsenal board.

Chairman Peter Hill-Wood had initially declared "we do not need his money and we don't want his sort" but both he and managing director Keith Edelman have since met with Kroenke.

Kroenke is said to be "bullish" at the prospect of further talks but the picture is not clear - and the club's former vice-chairman David Dein could hold the key to the balance of power.

Dein left the club because of "irreconcilable differences" with the rest of the current board in April but he still holds around 14% of the club's stock, estimated to be worth £57million.

If he was to sell to Kroenke Sports Enterprises, the American would be close to the 30% threshold which, under Stock Exchange rules, would oblige him to launch a bid for the remaining holding.

Hill-Wood, though, has long maintained he would be "horrified" to see complete ownership move across the Atlantic.

At the time of the announcement of Dein's departure, a pledge was taken by the remaining board members - who together hold some 45.45% - not to dispose of any stock for "at least one year".

That in itself, however, may not prove impossible for Kroenke to overcome, should he seek such a course of action.