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The club sold its Arsenal Broadband stake to KSE UK, a vehicle controlled by Kroenke. Together with the proceeds from selling its 9.9% stake in the club last April, ITV has now received a total of £65m from KSE for its interests in Arsenal.

ITV has now finished selling off its football assets. Since February 2007 it has sold its shareholding in Liverpool Football Club and Athletic Grounds for £17.4m; its stake in MUTV for £3.3m and its stake in Liverpoolfc.tv for £15.75m.

ITV has now raised more than £620m through the disposal of non-core assets since the merger of Granada and Carlton in 2004. This includes the sale last month of Carlton Screen Advertising, the UK's largest cinema advertising sales house, to a joint venture between Cineworld and Odeon Cinemas for £500,000 in cash.

Tom Betts, commercial and acquisitions director at ITV, said: "This completes the sale of our football assets which has seen us successfully raise £101m from those assets in just over a year."

"We would like to wish Arsenal.com and KSE UK the very best for the future."