Stan Kroenke has made a cash offer to buy Arsenal in a deal that values the club at £1.8billion.
The American billionaire, who already owns 67 per cent of the Premier League club, wants to buy the remainder of the shares after securing the backing of minority owner Alisher Usmanov.
Kroenke said in a statement to the London stock exchange that he believed the club would benefit from being taken private.
More to follow.
Arsenal majority owner Stan Kroenke will make a bid for full ownership of the London club