Arsenal deny knowledge of £1.5bn Arab takeover bid

Arsenal have failed to win a trophy for 8 years English Premier League side Arsenal have denied reports of an approach from a Middle East consortium over a potential takeover, adding that majority shareholder Stan Kroenke had no plans to sell up. The Gunners were responding to reports in several British newspapers, including the Sunday Telegraph that investors from UAE and Qatar were plotting a £1.5bn ($2.25bn) bid for the north London club.
The Sun newspaper reported that the investors would offer Kroenke £20,000 per share for his 66.64 per cent stake in the Gunners, netting the American £830million — a profit of around £350m.
However, Arsenal communications director Mark Gonnella told Reuters, \"Stan Kroenke is committed to Arsenal for the long term and has no intention of selling his stake.\"
\"There has been no contact from any potential investors,\" he added.
Arsenal are currently sitting fifth in the Premier League, four points behind fourth-placed north London rivals Tottenham.