Arsenal investor Kroenke says it's a partnership

LONDON (Reuters) - U.S. sports tycoon Stan Kroenke said on Thursday that his stake in UK soccer club Arsenal (AFC.PZ) is a long-term investment and a partnership for now.

The board of the first-place Premier League club, which has also seen a wealthy Russian businessman take a 21 percent stake, has been resistant to a takeover by foreign investors, unlike a number of its rivals.

When asked if he might pursue a full buyout, Kroenke, who owns about 12 percent of Arsenal, said: "It's a partnership at this point. Things in sport take a lot of time and effort."

Arsenal's chairman, Peter Hill-Wood, earlier this year said he would be "horrified" to see the club owned by an American.

"We showed we are long-term investors and it's a strategic investment for us," Kroenke said when asked on the sidelines of a conference in London to respond to Hill-Wood's remarks.

Arsenal board members owning about 46 percent of the club have signed an agreement not to sell their stakes in an effort to stave off a takeover.

Kroenke said he was OK with that decision, but was non-committal when asked if he would join them as the relationship strengthens. "We'll see," he said.