Spotify founder Daniel Ek says he has had an offer to buy Arsenal rejected.
Amid the fallout from the European Super League collapse in April, Ek said he was interested in buying the club.
On Saturday, he released a statement on Twitter to deny reports he was yet to make an offer for the club.
“This week an offer was made to both Josh Kroenke and their bankers that included fan ownership, representation at board and a golden share for the supporters,” Ek wrote.
“They replied that they don’t need the money. I respect their decision but remain interested and available should that situation ever change.”
Ek is worth worth a reported $4.7bn
(£3.38bn) and has Arsenal legends Thierry Henry, Dennis Bergkamp and Patrick Vieira as part of his bid team.
Swedish billionaire Ek first signalled his interest in the club following protests by Gunners fans against the Kroenkes for their role in the failed European Super League.
The Kroenkes responded by saying they were “100% committed” to Arsenal and “are not selling any stake”.
“I’ve been an Arsenal fan since I was eight years old,” Ek said in April. “Arsenal is my team. I love the history. I love the players. And of course, I love the fans.
“So as I look at that, I just see a tremendous opportunity to set a real vision for the club to bring it back to its glory. And I want to establish trust with fans and I want to engage the fans again.”
Stan Kroenke, 73, took a 9.9% stake in Arsenal in 2007 and slowly built up his shareholding until it reached 62.89% in April 2011.
He then assumed full control of the club after Alisher Usmanov accepted his 2018 bid to buy him out for £550m.
He is the owner of numerous sports franchises, including NFL side the Los Angeles Rams and NBA team the Denver Nuggets.
Kroenke’s son Josh is a director at the club and heavily involved in its day-to-day operations.