ARSENAL majority shareholder Stan Kroenke responded Monday to speculation about a possible takeover by insisting his company KSE U.K.’s shares in the English Premier League club “are not, and never have been for sale.”

In a brief statement to the London Stock Exchange, KSE said: “KSE U.K. Inc. notes the recent media speculation concerning its shareholding in Arsenal Holdings PLC and confirms that its shares are not, and never have been, for sale.”

The statement came after last Friday’s Financial Times reported that Russian billionaire Alisher Usmanov had made a US$1.3 billion bid to take control of Arsenal from Kroenke. Uzbekistan-born Usmanov owns 30 percent of Arsenal and is said to have recently made the offer in a letter to American sports entrepreneur Kroenke, who controls a 67 percent stake.

Usmanov, who made his fortune in the steel industry, had seen a previous bid for Arsenal rejected.

Kroenke’s business and sports empire also includes the US’ Denver Nuggets basketball team and the Los Angeles Rams American Football team.

(SD-Agencies)