English Premiership club Arsenal has denied a newspaper report that it has had a bid approach.
'The board of directors confirms that it is not and has not been in any such talks and has not received any such approach,' Arsenal said in a statement on its website.
A report in The Sun newspaper said the club had held talks about a possible takeover, but that the £350m price tag was a stumbling block. The report said a consortium interested in buying the club backed off in June when told the asking price, but a new group, which could include a Russian billionaire, was now interested.
Shares in Arsenal, which are traded on London's Ofex market, ended 3.2% higher at £4,800, valuing the company around £298m.
Arsenal has been in focus in financial markets in recent months after it wrapped up a £260m bond sale that helped to refinance debt associated with the construction of the club's new stadium in north London. The club moved there this autumn after 93 years at nearby Highbury.
