Stanley Kroenke has upped his stake in Arsenal again to move within one per cent of launching a takeover bid for the club.

The American billionaire acquired 90 shares at £8,500 each to take his stake to 28.9 per cent.

Last month, Kroenke purchased 80 shares to move to 28.7 per cent. His latest acquisition moves him closer to the 29.9 per cent figure which, under Stock Exchange rules, would force him to make an offer for the rest of the shares.

Kroenke has been actively increasing his hold on the Gunners and has more than doubled his stake over the last year to become the club's largest shareholder, with a total of 17,957 shares. Just over a year ago, he held 12.38 per cent but has since bought shares from the Carr brothers and Danny Fiszman.

Kroenke, also the owner of the NBA basketball's Denver Nuggets, is on Arsenal's board and his latest acquisition will test the resolve of Alisher Usmanov - the club's secondlargest shareholder.

The Russian-based billionaire appears to have cooled his interest in upping his stake.

Kroenke's latest move could now force the metals magnate's hand into making a decision. Should he wish to rival Kroenke, he needs more shares and could ask Lady Nina Bracewell-Smith - who fell out with the club but remains Arsenal's thirdbiggest shareholder - to sell some of her 16.8 per cent stake.