American tycoon Stan Kroenke has increased his stake in Arsenal to just over 12%, days after his friend David Dein quit the club's board.
Previously, Kroenke Sports Enterprises held a 11.26% stake, mainly as a result of buying 9.9% of the club from ITV.
Dein's exit after 24 years on the board was blamed on "irreconcilable differences" with other directors.
Earlier chairman Peter Hill-Wood said he "would be horrified to see ownership of the club go across the Atlantic."
If Kroenke, who owns the Colorado Rapids Major League Soccer
club, raises his Arsenal stake to 30% he is obliged by
takeover rules to launch a formal bid for the Gunners.
Manchester United, Liverpool and Aston Villa are all under