Don't fear me - I'm not about to take over at Arsenal - insists billionaire Kroenke

The American billionaire, who owns 12 per cent of the shares, also insisted he is 'very confident' that football can eventually become as popular in the United States as baseball and basketball.

Arsenal chairman Peter Hill-Wood says the two parties are close to announcing the tycoon's place among the club's group of core directors.

'It has certainly been talked about and it will happen sooner rather than later, although the details have not been finalised,' said Hill-Wood, who denied that a Kroenke  takeover of Arsenal is now inevitable.

'I don't think he has any intention,' he told the Daily Telegraph . 'In the long term, in 10 years' time, he may take a different view. Things might change. He is certainly committed to not taking over the club.'

Kroenke owns or controls American football, baseball and ice hockey teams, as well as owning the Colorado Rapids soccer club but Hill-Wood is happy to work with him.

He said: 'He is quiet, not ostentatious He could be a very good ally and colleague. There is some logic in him getting close to us. He is a sensible man who is a sportsperson and has got some expertise in his business and that has helped him to develop a fanbase there .

'He is very confident football can be as popular as American football, basketball and baseball. Whether it will, I have my doubts.'

The American will not, though, be involved in Arsenal's search for a new chief executive. 'That may have happened by the time he gets on board,' said Hill-Wood, who added that the board will interview 'about a dozen' candidates and hinted that the CEO could come from outside football.

'He must be a competent businessman who has got the ability to relate to the different stakeholders: the fans, the shareholders, the board and the staff.'