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Stan Kroenke takes control of Arsenal

Updated: May 28, 2011, 9:06 AM ET
Associated Press

LONDON -- Arsenal has received approval from the Premier League for American Stan Kroenke to take control of the club.

Kroenke, who also owns the NFL's St. Louis Rams, the NBA's Denver Nuggets, the NHL's Colorado Avalanche and Major League Soccer's Colorado Rapids, gained a controlling stake in the London club by buying shares from fellow directors and launched a mandatory takeover bid that values the club at $1.2 billion.

"The club is very pleased to announce that the Premier League ...

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