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According to Forbes magazine, Kroenke is the 130th richest American with a net worth of $2.6 billion.

Despite initially being wary of Kroenke’s intentions in 2007, Arsenal chairman Peter Hill-Wood insisted Monday that Kroenke “will be a safe custodian” of the club’s future.

Mr. Kroenke, although relatively new to Arsenal, has shown himself to be a man who values and respects the history and traditions of this very special club that we cherish,” said Hill-Wood, who is the third generation of his family to serve as chairman and will make more than $7.6 million by selling his shares.

Kroenke wants Hill-Wood and the rest of the current board of directors to remain in place.

“He’s a strong silent type, and I think that’s not necessarily the worst thing when it comes to sports team owners,” MLS Commissioner Don Garber, who has talked to Kroenke about his plans for Arsenal, has told The Associated Press. “He’s very loyal. He’s a very quiet and a strategic thinker. He doesn’t make rash decisions.”