No buy-out bid for Gunners
Latest news update:
Arsenal owner Stan Kroenke reportedly has no plans to sell his controlling stake, while the club claim they have had no takeover offer.
Reports this weekend have claimed that a Middle East consortium are preparing a £1.5billion bid to buy out the Premier League club at around £20,000 a share.
However, it is being claimed that no approach has been made to the club, while American owner, Kroenke, who pushed through his £430million-plus takeover in April 2011, and now holds 66.83% of the club, is said to be "in it for the long term".
Therefore it remains to be seen if the mystery consortium, which is said to be backed by funds from Qatar and the United Arab Emirates, will step forward with a concrete offer.
A previous report claimed the group want to work with Arsenal's second largest shareholder, Uzbek oil magnate Alisher Usmanov and his Red & White Holdings, to help Arsenal fight it out for domestic and European honours following an eight-year spell without silverware.
Usmanov currently has no seat on the Arsenal board despite having a 29.96% holding, but that would change if a buy-out did take place.