Stan Kroenke says he has no problem with the Arsenal board's agreement not to sell their shares but he remains non-committal about his future plans.
The American billionaire has a 12.2% stake in the Gunners but the club have a 'lock-down' agreement in order to resist any takeover attempts.
"I certainly don't have any problem with the lock-down," said Kroenke.
"This is a long-term, strategic investment for us. These things take a lot of time and effort to develop."
Kroenke described his relationship with the Arsenal board as a "partnership".
He added: "We showed them we are long-term investors. We do things for very specific reasons. We think they're good reasons."
Kroenke was thought to be preparing a takeover attempt when he acquired his stake in the club earlier this year.
However, Arsenal have since been targeted by Russian Alisher Usmanov, who has built up his share to 23% in recent months.
In response, members of the Arsenal board reached an agreement that directors can only sell their shares to "permitted persons" before April 2009 and must give fellow board members first option until October 2012.
Kroenke's purchase of Arsenal shares led to David Dein's resignation from the Arsenal board in April.
Dein was reported to support any takeover attempt by Kroenke, but other board members disagreed.
The club's former vice-chairman has since taken over as chairman of the Red & White Holdings Consortium - which is co-owned by Usmanov.
Kroenke refused to comment on his current relationship with Dein.