Arsenal owner Stan Kroenke hatches huge stadium plan amid $50m valuation

Latest Arsenal news: Stan Kroenke has enjoyed much success in the last 12 months with a number of his sports franchises winning titles but more is yet to come

Arsenal owner Stan Kroenke is planning to launch a new project to build MLS side Colorado Rapids a brand new stadium, according to reports.

Most of Kroenke's success has come in American sports, with him yet to oversee a Premier League title success with Arsenal since becoming a majority shareholder of the football club in 2011. Last season was the Gunners' best attempt, with Mikel Arteta's men leading the way for the majority of the year before falling behind eventual treble winners Manchester City.

Kroenke's other football club, the MLS side Colorado Rapids, have also endured a difficult time of late. Kroenke Sports bought the team in September in 2003 before guiding them to the 2010 MLS Cup.

However, minus their second-placed finish in 2021, the 'Pids have struggled to compete with the nation's elite and have suffered a forgettable year. Robin Fraser's side are currently rock bottom of the MLS Western Conference after losing eight of their 21 games - winning only three.

Despite their recent struggles, Kroenke is hoping to bring success to his team by launching a major stadium project. The club's stadium, Dick's Sporting Goods Park, is owned by Commerce City while the Arsenal owner owns a 269-acre plot of land surrounding the ground.

Front Office Sports have reported that Kroenke is hopeful of obtaining 88 acres of land, as well as a county water plant. It's said his masterplan would be to redevelop the land to bring commercial value to the area with shops, bars and restaurants built in the surrounding location.

However, Kroenke's issue comes in the process of