Stan Kroenke has been revealed as the ‘mystery’ buyer of the vacant Promenade mall, in Woodland Hills, LA, although it’s not clear what the Arsenal owner plans to do with it.

Stan Kroenke has spent €150m to buy a vacant 34-acre lot in Los Angeles, with some speculation he could turn it into a year-round practice facility.

Speaking to the media, Los Angeles City Council member Bob Blumenfield said, “We know that that (The Kroenke Group) have different interests and they might put a stadium there,” Blumenfield said.

“But unless they come to the city to ask for changes of some sort, and we grant them, they still have to do all what’s required in the entitlements.

“I assume one of the reasons they bought it was because of the way it was entitled.

“Nothing is changed on the entitlement. The only thing that’s changed is that The Kroenke Group bought the property.”

The Los Angeles Daily News add, “In 2020, the Los Angeles City Council entitled a plan to transform the aging shopping mall into a $1 billion entertainment, sports, dining and residential complex.

“To be built in phases by 2035, it was envisioned as a major destination project with 1,432 apartment units, a 28-story office tower, two hotels — and a 10,000-seat entertainment and sports center.”